Word: hyundai
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While other automakers are closing plants in the U.S., Kia, which is controlled by South Korea's Hyundai Automotive Group, is preparing to open a brand-new assembly plant in West Point, Ga., southwest of Atlanta. The $1.2 billion, 2.2 million-sq.-ft. plant will begin producing Kia vehicles for the retail market next month. Up until now, Kia had imported 100% of its vehicles. (See the 50 worst cars of all time...
...South Korean automakers are coming on strong. Kia is about to up its market share for the 15th consecutive year, and the combined sales of Hyundai and Kia increased 26% in September even as industry sales overall softened after the cash-for-clunkers program ended. They also are two of three brands reporting a sales increase through the first three quarters of 2009 - Hyundai's sales are up 1.3% while Kia's have increased 4.6%. The South Koreans have gained more market share than any other automaker this year, and their combined market share is now closing in on that...
...John Krafcik, president and CEO of Hyundai Motor America, is now able to do something rare for automakers: boast. "U.S. car buyers have responded in record numbers to high-quality, award-winning Hyundai products," he says. More significantly, praise is coming from Consumer Reports, J.D. Power & Associates' Initial Quality Survey and a panel of journalists at the North American International Auto Show in Detroit who named Hyundai's Genesis the 2009 Car of the Year. (See the best cars from the 2009 Detroit Auto Show...
...years later, it sells just 2,000 vehicles a month in India in the compact and mid-size car segments, according to the New Delhi-based Society of Indian Automobile Manufacturers. India's biggest car company, Suzuki India, sells 57,000 cars a month in the same segments; Hyundai sells 23,232 cars a month...
Adding insult to injury, Chrysler finished a distant sixth place in overall sales for the month, behind even the younger South Korean brands, Hyundai and Kia, which don't report their sales figure jointly, even though they are owned by the same company. When combined, the two Korean brands sold more than 100,000 vehicles in August, finishing ahead of Chrysler in monthly sales for the first time. (See the 50 worst cars of all time...