November 23, 2024

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[THE INVESTOR] Kia Motors sold more cars than its bigger corporate sibling Hyundai Motor for the first time in the domestic market last year. 

Kia sold a total of 475,107 passenger cars in 2016. The figure was 56,804 more than Hyundai, which sold 418,303 cars during the same period, according to Hyundai Motor Group on April 30. This is the first time since 2000 when Hyundai took over Kia to form the auto group. 

“We see this to be a temporary phenomenon,” a Hyundai Motor official told the local press. “What’s more alarming for us is the declining market share of both Hyundai and Kia in the local market.” 

Hyundai sold 110,000 less cars in 2016 from the 529,135 units it sold in the previous year. This comes as many of its best-selling models, including the Sonata and Grandeur, are becoming outdated. Kia, on the other hand, has been making strides with a solid SUV lineup running the gamut from the Sportage, Carens and Carvnival to Soul and Mohave. Kia sold a total of 235,892 SUVs last year, up 10 percent from 2015. Hyundai’s SUV sales fell 12.5 percent to 143,259 units. 

Kia’s winning streak continued in the January-March period this year when its sales outpaced that of Hyundai by 104,954 to 101,644. However, industry watchers say it is too early to predict who will top sales this year, as Hyundai has pinned high hopes on its latest facelift version of the Sonata. It also has the Kona, a compact SUV, coming up to help it regain footing on its home turf. 

By Ahn Sung-mi (sahn@heraldcorp.com)