Hyundai affiliate Kia Motors did exceptionally well in 2009 taking its share of the world market to a record 2.6%, the Korea Times reported. Parent Hyundai is yet to report its 2009 sales figures but the newspaper estimated the two brands would have an 8% share of the global market.
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Kia sold 412,752 vehicles at home and 1.24m abroad to give it global sales of 1.65m, according to industry figures. This represents a 2.6% global share, up from 2.1% in 2008 and 1.9% in 2007.
North America and Europe remained Kia’s biggest markets with China catching up fast. Kia sold 346,181 vehicles in the US where its market share hit 3% for the first time. Sales in Europe were 331,733 in Europe and 241,386 in China.
Hyundai sold 3.11m vehicles in 2009 on the basis of delivery, but the actual figure is forecast to be higher as its sales from inventory rose.
Kia and Hyundai’s global share was 6% in 2007 and 6.5% in 2008. Last year, they reached 8.3% together in the third quarter.
Both companies have said they expect sales to rise 17% this year as the global economy recovers but there is growing concern of a stronger won.
Depreciation of the currency has been a major factor in boosting performance of Korean makers in the last couple of years. Since March until the end of last year, the US dollar was down 27% against the won but that position is changing as the won gains.
