Hyundai, Kia suffer setbacks in emerging markets
Hyundai, Kia
Seoul - Yonhap
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are facing growing challenges in emerging markets with their sales either shrinking or slowing in growth, industry data indicated Tuesday.
According to the data from Korea Automotive Research Institute and other industry groups, Hyundai and Kia, South Korea's No. 1 and No. 2 carmakers, sold 103,319 and 56,130 vehicles each in China last month, down 10.3 percent and 6.4 percent from a year earlier.
The sales drop is expected to lower their combined market share in China to 8.1 percent, the lowest since 2010.
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