SOUTH KOREA: Hyundai-Kia overseas car sales to top 50m in March
Hyundai and its affiliate Kia Motors are expected to reach a new milestone of 50m cars in accumulative sales overseas as early as next month.
The Maeil Business Newspaper said the two carmakers posted 48.33m cars in accumulative car sales overseas last year. Given their combined monthly overseas sales reach up to 600,000 units, they are very likely to surpass 50m units during March.
Their accumulative car sales overseas passed 1m in 1987 and 10m in 2001.
Sales growth gained speed over time, passing 20m units in 2006, 30m in 2009 and 40m in 2011.
Last year, record sales continued for the carmakers, sending their global market share to 8.8%, the highest level ever. The market share reached 8.7% in the US, 6.2% in Europe and 10.5% in China.
More than 80% of total production was sold overseas. Since 2008, they have maintained higher business margins abroad than at home.
The two carmakers run overseas plants, producing 600,000 units in the US, 600,000 in Europe, 1.44m in China, 600,000 in India, 100,000 in Turkey, 200,000 in Russia and 150,000 in Brazil.