Hyundai and Kia Suffer China Shock
Hyundai and Kia Suffer China Shock
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2015.08.17 10:36
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Hyundai Motor and Kia Motors, which performed relatively well despite the global economic slump, are suffering from the China shock as their sales in China fell sharply and suffered a huge amount of losses resulting from a recent explosion in Tianjin port.

According to industry sources on August 16, Hyundai Motor’s Chinese unit Beijing Hyundai and Kia Motors’ China unit Dongfeng Yueda Kia each suffered a sharp decline of 32 percent and 33 percent in Chinese sales in July.

Shanghai Volkswagen and Shanghai GM also reported a negative growth of 24 percent and 20 percent, respectively. China is the largest market for Hyundai Motor and Kia Motors, which account for one fourth of their total sales.

One month earlier, the combined market share of Hyundai Motor and Kia Motors slid to 7.3 percent in China in June, down 1.8 percentage points from 9.1 percent a month ago. Beijing Hyundai had a share of 4.5 percent and Dongfeng Yueda Kia grabbed a share of 2.8 percent.


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