Kia’s expansion challenges Hyundai

With popular new models, Kia Motors Corp. is continuing to expand its share in the domestic market posing a major challenge to its sister firm Hyundai Motor Co.

Hyundai’s mid-sized sedan Sonata has slipped yet further in the country’s bestselling car list in July, marking the second consecutive month of downward movement. 

In July, 8,469 Sonatas were sold on the local market, down 14.9 percent from the previous month. In addition, July was first time the current model’s sales have fallen under the 9,000 line since its launch last year.

With the changes, the Sonata was ranked as the third bestselling vehicle in the local market behind Kia Motors Corp.’s new mid-sized sedan K5 and the city car Morning. 

For the Sonata, last month’s fall in the rankings marks the second slip in as many months. In June, the first full month with the K5 available, the Sonata was knocked off the top spot to second place. 

Hyundai’s decline in the local market is not limited to the Sonata. 

Hyundai’s share of the local market stood at 50.8 percent for the first half of last year, but fell to 45.2 percent during the same period last year.

In contrast, that of Kia rose from the 31.1 percent recorded for the first six months of last year to 32.1 percent for the same period this year.