Hyundai, Kia sales in U.S., China surpass home market in first half

The United States and China surpassed Korea as the largest markets for cars made by Hyundai Motor Co. and Kia Motors Corp. in the first half of 2012, industry sources said Thursday.

Combined sales of Korea’s top two carmakers in the home market stood at 567,251 in the January-June period, while numbers for the U.S. and China reached 645,376 and 593,896 each.

The tally marks the first time that sales to individual foreign countries have surpassed the number for the domestic market. Both Hyundai and Kia sell more cars abroad than they do at home, but South Korea had been the single largest market up till 2011.

Last year, the two carmakers, the flagships of Hyundai Motor Group, the world’s fifth-largest automotive conglomerate, sold 1.17 million vehicles in South Korea just 4,000 more than its sales in China. The total number of cars sold in the United States hit 1.13 million for the whole of 2011.

Industry insiders said the rise in demand from the United States and China comes as Hyundai and Kia have moved steadily to set up assembly lines in the two countries, and have done more to boost its brand image through improved quality control and technology upgrades.

Sales in the U.S. market soared 50 percent in 2011 vis-a-vis 2007, while demand in China jumped 3.8-fold in the same period.

“With the local market expected to remain sluggish, sales of Hyundai and Kia cars in the two large markets are expected to surpass numbers sold in South Korea this year,” an automotive expert predicted.

Hyundai Motor Group expects to sell 1.18 million units in South Korea, which is smaller than the over 1.20 million unit targets set for both the U.S. and Chinese markets.

He pointed out that the two carmakers were planning to release new compact car models and a sport utility vehicle that could further boast sales in the large overseas markets.

Hyundai said it will launch its all new Sante Fe Sport SUV in the United States, while introducing the Avante MD in China. Kia said it wants to sell its compact K3s in the Chinese market this year. (Yonhap News)