Fight Won
Hyundai Motor and Kia Motors have retaken the lead in terms of sales in the sub-compact car market in the U.S. for the first time in four months.
According to a report provided by U.S. car research company AutoData on May 11, Hyundai and Kia Motors sold a total of 11,010 sub-compact cars in the U.S. market in April - 8,208 units of the Hyundai Accent and 2,802 of the Kia Rios, which uses the name Pride in Korea. The figures increased by 14.3 percent from a year earlier and 10.4 percent from the previous month. It sold 1,364 more units than its runner-up Nissan, with sales of 9,646 units of the Versa.
Hyundai and Kia Motors and Nissan have had an uncompromising fight in the U.S. sub-compact market. The company ranked first in December 2013, but Nissan pushed it into second and third place in November last year. However, Hyundai and Kia Motors won back the first spot in December last year. Nissan took the first spot from January to March this year, but Hyundai and Kia Motors retook the lead in April once again.
The combined market share for Hyundai-Kia Motors in the U.S. in April was 25 percent, meaning that one out of every four consumers purchasing sub-compact cars bought either a Hyundai or Kia. The figures consistently increased in the past four months from 19 percent in January, to 21 percent in February, 23 percent in March, and 25 percent in April.
For its popular model the 2015 Hyundai Accent, the company is carrying out a 10-year or 100,000 mile warranty program. It appeals to U.S. consumers with its 137 horsepower, six air bags, and Vehicle Stability Management (VSM) safety system.
Meanwhile, Hyundai Motor recently rather pushed back on the list of the global automakers’ market capitalization due to the weak yen, ruble, and euro.
According to financial investment sources, the combined market capitalization of Hyundai and Kia Motors stood at US$54.4 billion (60.5 trillion won) as of May 8 – US$35 billion (38.22 trillion won) for Hyundai Motor and US$19.4 billion (21.18 trillion won) for Kia Motors. Accordingly, the company ranked eighth in the global automakers, following Toyota with US$235.8 billion (257.5 trillion won), Volkswagen with US$119.3 billion (130.28 trillion won), Daimler AG with US$112.8 billion (123.18 trillion won), BMW with US$75.9 billion (82.88 trillion won), Honda with US$63.1 billion (68.9 trillion won), Ford with US$61.7 billion (67.38 trillion won), and GM with US$56.1 billion (61.26 trillion won). Hyundai and Kia Motors came in second place in terms of market capitalization in 2012, surpassing Volkswagen.