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Hyundai, Kia sales in emerging markets slow
(MENAFN) Industry data showed that Hyundai Motor Co. and its affiliate Kia Motors Corp. sales in emerging markets either shrinking or slowing in growth, Yonhap News reported.
Hyundai and Kia, South Korea's No.1 and No. 2 automakers, sold a total of 103,319 and 56,130 units, respectively, in China in January, down 10.3 percent and 6.4 percent, respectively, on-year.
The sales drop is expected to lower their combined market share in China to 8.1 percent, the lowest since 2010, according to data from the Korea Automotive Research Institute and other industry groups.
The decline in sales comes despite the overall sales growth in the Chinese mainland, where about 1.98 million cars were sold in January, a 13.5 percent rise from a year earlier.
Hyundai and Kia, South Korea's No.1 and No. 2 automakers, sold a total of 103,319 and 56,130 units, respectively, in China in January, down 10.3 percent and 6.4 percent, respectively, on-year.
The sales drop is expected to lower their combined market share in China to 8.1 percent, the lowest since 2010, according to data from the Korea Automotive Research Institute and other industry groups.
The decline in sales comes despite the overall sales growth in the Chinese mainland, where about 1.98 million cars were sold in January, a 13.5 percent rise from a year earlier.
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