2010, the Korean Car Manufacturer Will Taking Profit
LOS ANGELES – Korean automakers, Hyundai Motor and Kia Motors predicts will gain more profit from its market share especially in the United States in 2010. This optimism is based on solid profits earned two automotive companies in 2009.
“Sales will go up approximately eight percent to 10 percent next year. The first quarter and the second will be better than this year, but the things that should be pursued in the third quarter,” said the CEO of Hyundai Motor’s America, John Krafcik, as quoted by AFP, Friday (4/12/2009).
According to him, overall sales in the U.S. market to grow beyond 11 million units in 2010 and market share will also continue to grow. As in 2009, Hyundai has managed to sell 401 thousand units and market share recorded holding third.
In addition, he predicts will gain more profit next year by introducing two new models of all-new 2011 Sonata and New Tucson. The Sonata is designed to compete in the middle segment, which is the core of the U.S. car market.
“New Sonata offers efficiency, packaging and very good solid driving dynamics than USD20.000. But it is also well laid out,” said Product Planning Director Scott Magnusson Hyundai.
The same style is also used in the design of the new Tucson, Hyundai hopes will appeal to consumers who in the past tended to go for the big Japanese brands-Toyota, Honda and Nissan. “We’re crossing more often to shop now with Japan,” said Magnusson.
Vice President Tom Loveless said, from the sale of Kia Motors America, Hyundai subsidiary that markets have their own brands in the U.S. produces a very important value for American consumers.
“KIA has also been targeting double-digit sales increases since the mid-summer and will finish the year with a substantial increase in market share,” he said.
Kia’s largest market share came from the northeast United States, which jumped 80 percent. Kia also has added a real estate dealer in the primary in big cities left by other car manufacturers. He also hopes that Kia print benefits more sales, through the launch of new models in 2010.
During the preview LA Auto Show, Kia will show off the latest model 2011 Sorento, which was built on a new Kia assembly plant in West Point, Ga..
Throughout this year, according to JD Power & Associates, Hyundai Group has grown to sales of more than six percent on soft market and the combination of Hyundai Kia and now holds nearly 6.2 percent of the U.S. market, the highest share ever,
Hyundai’s market share has grown 3.76 percent from 2.58 percent in 2008, while Kia’s has risen to 2.41 percent from two percent in 2008.
beitarnews | Company Info | 12 8th, 2009 |












