Hyundai and Kia Achieve Record Market Share in U.S. at 4.8% in June

Hyundai Motor Group, (the Korean mother corporation of Hyundai Motor America and Kia Motors America) has moved closer to its 2010 goal of becoming one the top five global automakers with its two American operations posting gains in market share.

California headquartered Hyundai Motor America and Kia Motors America achieved combined market share in the U.S. of 4.8 percent in June.

Hyundai Motor America sold 41,336 units in the U.S. market in June, setting a new monthly sales record, up 18.8 percent from a year ago, to increase its U.S. market share by 0.3 percentage point from March 2003.

Hyundai Motor America captured 1 percent of the market in 1999, 1.4 percent in 2000, 2 percent in 2001, 2.2 percent in 2002 and 2.4 percent in 2003.

Kia Motors America sales in June totaled 27,636 units, jumping 36 percent over last year’s figure.

Hyundai Motor America expects to gain greater market share later this years with the introduction of its sport utility model, Tucson.

With regard to Hyundai and Kia, the corporate strategy over the next several years includes better defining Kia's market niche as "sporty," "smaller," and " lower priced", while Hyundai will focus on "bigger," "more luxurious," and better equipped."