Hyundai Kia Moves Ahead of GM Despite Covid-19 Sales Drop
Depending on your mobility proclivity, the center of the automotive world could be the in the sweeping turns of the famed and fated German Nürburgring racing circuit, or the rolling hills and countryside of the Italian Emilia-Romagna region where the Ferrari prancing horses and Lamborghini bulls run loose.
But when it comes to the business of automobiles … the center of the universe has shifted decidedly to the Asian continent, with China and other regional economies as the most voraciously expanding markets.
Together Hyundai and Kia control an 8.9% share of the global market becoming the 4th largest carmaker, edging out General Motors, despite a 39% sales drop due to Covid-19.
Brand successes including the Hyundai premium spinoff Genesis line, the newest Hyundai Sonata, well-received Hyundai Kona, North American Truck of the Year Kia Telluride and the new K5 value sports sedan, have overshadowed recalls and competitive numbers fudging fines.
Notably for the future Hyundai-Kia already have a 9.9% global electric vehicle market share!