Both Hyundai and Kia gained on their rivals in China last month with Hyundai taking the No 3 sales slot for the first time, behind Shanghai-Volkswagen and Shanghai-GM while Kia was the ninth best-selling brand.
Hyundai sold 50,717 vehicles in February, according to company figures. This is up 36.7% from the same period last year but down 30% on January when the company sold 72,000 units. Overall sales in China were down in February but Hyundai increased its market share to 6.7% from 5.8% the previous month.
“Competition in China is becoming fiercer and fiercer as China has become the world’s largest automobile market,” a Hyundai official said.
Kia saw a 4.2% sales increase in February from a year earlier with sales of 25,000 units and the company said that it hopes the launch of its K5 mid-size saloon which spearheads a product offensive in China will help it to increase its market share.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData