Market share of Hyundai, Kia tops 80 pct in S. Korea

SEOUL, Jan. 5 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp.
saw their combined market share in South Korea surpassing 80 percent for the
first time last year, widening their lead over smaller rivals, industry data
showed Tuesday.

Last year, Hyundai and Kia sold a total of 1,115,424 vehicles in the Korean
market, accounting for 80.5 percent of the market.
It is the first time that the combined market share of Hyundai and Kia surpassed
the 80-percent mark since 1999, when Hyundai acquired Kia.
Some analysts say Hyundai and Kia widened their market share lead over smaller
rivals such as GM Daewoo Auto & Technology Co. and Renault Samsung Motors Co.
last year, because Hyundai and Kia introduced more new or revamped models,
including a revamped version of the Sonata sedan and the Forte compact car.
Renault Samsung, owned by French automaker Renault SA, came third with market
share of 9.6 percent, followed by GM Daewoo Auto & Technology Co. with 8.3
percent, according to the data.
Ssangyong Motor Co., which is struggling to emerge from bankruptcy protection,
came last with market share of 1.6 percent.
(END)

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