The Chosunilbo - Hyundai-Kia Automotive Group's share of the U.S. auto market exceeded 10 percent in May for the first time since it entered the market in 1986.
The group said on Thursday that it sold 107,426 cars in the U.S. last month, accounting for 10.1 percent of the total 1.06 million cars sold there. Hyundai Motor saw an increase of 21 percent on-year from 49,045 vehicles to 59,214, and Kia Motors a whopping 53 percent from 31,431 vehicles to 48,212.
The group surpassed Nissan (76,148 cars sold) and Honda (90,773) to rank fifth in the U.S., and fell short of fourth-place Toyota (108,387) by a mere 961 cars. "Hyundai-Kia's success last month is thanks to its strong lineup of fuel-efficient compacts amid the high global oil prices," an industry insider said.
GM ranked first with sales of 221,192 cars, followed by Ford (191,529) and Chrysler.
Hyundai-Kia grabs over 10% of US auto market for first time