South Korea's second-largest automaker Kia Motors executives revealed that Kia Motors’ global sales of cars in the first four months of 2011 have been growing at an alarming rate. The company’s global car share this year is expected to increase substantially. The proportion will increase from 2.9% in 2010 to 3.4%.
It is understood that Kia Motors was once bankrupt in 1997 under the influence of the Asian financial crisis. The company was subsequently merged into Hyundai Motor Co., the number one car manufacturer in South Korea. After becoming a subsidiary of Hyundai Motor Co., sales of Kia Motors have continued to grow by leaps and bounds. According to Oh Tae-hyun, chief operating officer of Kia Motors, the global market share of Kia Motors will reach 3.4% in 2011.
In April 2011, Kia Motors sold 205,600 vehicles worldwide, a year-on-year increase of 17.8%. In the first quarter of 2011, sales of Kia Motors in the global market increased by as much as 30% to 181,000 units.
It is understood that the sales growth of Kia Motors mainly benefited from the recovery of the global automotive market, the benefits of higher oil prices for small cars and the declining trend of Japanese car manufacturers after the earthquake. It is reported that Korean car companies are very little affected by the earthquake in Japan, because they almost do not use Japanese auto parts imports, and the market share of Hyundai Kia Motors will have to increase.
It is understood that Kia Motors was once bankrupt in 1997 under the influence of the Asian financial crisis. The company was subsequently merged into Hyundai Motor Co., the number one car manufacturer in South Korea. After becoming a subsidiary of Hyundai Motor Co., sales of Kia Motors have continued to grow by leaps and bounds. According to Oh Tae-hyun, chief operating officer of Kia Motors, the global market share of Kia Motors will reach 3.4% in 2011.
In April 2011, Kia Motors sold 205,600 vehicles worldwide, a year-on-year increase of 17.8%. In the first quarter of 2011, sales of Kia Motors in the global market increased by as much as 30% to 181,000 units.
It is understood that the sales growth of Kia Motors mainly benefited from the recovery of the global automotive market, the benefits of higher oil prices for small cars and the declining trend of Japanese car manufacturers after the earthquake. It is reported that Korean car companies are very little affected by the earthquake in Japan, because they almost do not use Japanese auto parts imports, and the market share of Hyundai Kia Motors will have to increase.
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