[THE INVESTOR] Kia Motors’ sales in Mexico more than tripled in Mexico in May from about a year ago, Korea’s second-largest carmaker said on June 30.

Kia said it sold 4,610 units in Mexico in May, compared with 1,499 units in July last year when the carmaker began to sell its vehicles there.

The carmaker said it sold a combined 18,200 units in the first five months of this year, accounting for a 3.1-percent share in Mexico’s auto market.

Kia said it expects to sell about 50,000 units and boost its market share to 3.4 percent this year.

In May, Kia Motors began production of the K3 compact car at its plant in Mexico, its fourth overseas plant.

Kia said it plans to produce 100,000 units in 2016 before boosting its annual capacity to 300,000 units. That would raise Kia’s total production capacity to 3.49 million units -- 1.63 million units in Korea and 1.86 million units in overseas plants. The carmaker has assembly plants in the United States, China and Slovakia.

Kia said it plans to export about 80 percent of its vehicles produced in Mexico to Central and South America as well as North America by taking advantage of Mexico’s many free trade agreements to ship duty-free cars to most of those markets.

(theinvestor@heraldcorp.com)