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Hyundai, Kia car sales in emerging markets up 15 pct

2018/05/14 09:41

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SEOUL, May 14 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday their combined sales in Brazil and three other emerging countries rose 15.1 percent in the first four months of 2018 from a year earlier, a positive development amid sluggish demand in major markets.

The two South Korean carmakers sold a combined 427,408 vehicles in the four nations -- Brazil, Russia, India and Mexico -- up to the end of April, compared with 371,213 units a year earlier.

The sales figures represent 18.4 percent of the two carmakers' total sales around the world during the period.

The robust sales also boosted the combined market share of Hyundai and Kia in the four emerging markets to 14.8 percent in the January-April period, up from 14.2 percent for the whole of 2017.

Hyundai and Kia -- which together form the world's fifth-biggest carmaker by sales -- said the brisk sales in the emerging markets could help offset their sluggish sales in the United States and China.

The two carmakers said they are aiming to sell a combined 7.55 million vehicles this year, after missing their combined sales goal of 8.25 million cars last year.

This file photo shows the headquarters of Hyundai Motor Co. and Kia Motors Corp. in southern Seoul. (Yonhap) This file photo shows the headquarters of Hyundai Motor Co. and Kia Motors Corp. in southern Seoul. (Yonhap)

entropy@yna.co.kr

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