With January to September sales of 5.5m and a combined global market share of 8.8%, Hyundai and Kia could overtake the Renault-Nissan Alliance to become the world’s fourth biggest carmaker this year.
The Hyundai group is up 0.2 percentage points from 8.6% in the same period a year ago, although there is concern among analysts that the brands are suffering a slow down and may not achieve 9% market share this year, enough to pass the alliance.
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Hyundai and Kia have suffered strikes this year which have disrupted production and slowed the companies’ ability to catch up with global demand. The brands are also facing strong competition from foreign brands in South Korea and sales are slowing in emerging countries including India, Russia and Brazil.
The group believes, however, it can achieve a 9% or higher market share with strong sales in China and the start of production of the Hyundai i10 in Turkey where capacity has been expanded by 100,000 units. In addition, it has introduced a third shift in Brazil.
