Published : 2013-12-03 19:46
Updated : 2013-12-03 19:46
Hyundai Motor Co. and its smaller sister company Kia Motors Corp. continued to dominate South Korea’s auto market, but their combined market share has shrunk a bit in recent months, data showed Tuesday.
The top two automakers sold 93,254 units in November, accounting for a 78.3 percent share of the local auto market, according to the data compiled by Hyundai and Kia.
Their combined domestic market share stood at more than 80 percent in the first seven months of this year, but it has since been stuck at just under 80 percent.
Domestic sales of Hyundai and Kia dropped 11.9 percent and 12.3 percent in November, compared with the same month last year, according to the data.
The automakers said a slump in domestic sales, reduced working days and a high comparison base posted late last year are to blame for the recent slide of their market share.
Hyundai and Kia are the two major flagship units of South Korea’s Hyundai Motor Group, the world’s fifth-largest carmaker. (Yonhap News)