Korean firms aim for further gains at Detroit Motor Show

DETROIT (AFP) ― Korean automakers Hyundai and Kia made a strong showing at this year’s Detroit auto show, turning heads with new models and vowing to build on last year’s gains.

Both Kia and Hyundai ― which share manufacturing and engineering facilities but sell their vehicles separately in the U.S.― are looking for more growth this year after setting sales records in 2010, with Hyundai having finished the year with a 24-percent sales increase.

“Today, customers do not believe that expensive cars with unnecessary technology are premium,” Hyundai vice chairman Chung Eui-sun said in a speech at the conference.

“Instead, they want their core needs fulfilled at an accessible price and with a car that exceeds their expectations,” he added.

Hyundai is considering building another US assembly plant to keep pace with rising demand, its US president and chief executive officer John Krafcik said in an interview with Automotive News, a trade publication.

In the meantime Kia has scooped up a series of awards, with Cars.com voting its Optima the “Best of 2011.”

“The new Kia Optima enters the most competitive segment in the industry and tops it with a lot of value, good looks and a solid ride,” said Cars.com Editor-in-Chief Patrick Olsen.

Kia Motors America (KMA) was also ranked the “most improved” automotive brand in customer loyalty in 2010 by the R.L. Polk Company and was honored with one of three nominations for best concept vehicle in the “EyesOn Design” competition held in Detroit.

“Kia Motors continues to build a brand that is attracting new consumers daily,” said KMA Vice President of Sales Tom Loveless.

He added that Kia’s market share has increased for the 16th consecutive year, reaching an all-time high of 3.1 percent.

The two companies together sold nearly 900,000 vehicles in the United States last year, placing just behind Nissan, which sold more than 908,000.