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Hyundai-Kia’s overseas sales to trump 50m units
Publication Date : 21-02-2013
Hyundai-Kia’s accumulated overseas sales volume is set to break the 50-million mark next month.
The two affiliated automakers sold 48.33 million units abroad as of late last year since Kia shipped off 10 Brisa pickup trucks bound for Qatar 38 years ago.
Since the two companies’ average monthly sales abroad range between half a million and 600,000 units, their accumulated sales volume is expected to surpass 50 million units in March, Hyundai said.
Hyundai Motor started exports in 1976 by shipping off six Pony compacts to Ecuador.
Hyundai-Kia’s overseas sales broke the 10-million mark in 2001, 27 years after they began exports; the 20-million mark five years later in 2006; the 30-million mark in 2009; and the 40-million mark in 2011.
Two-thirds of the Hyundai-Kia cars sold abroad so far were exported from Korea. Hyundai Motor exported 19.42 million vehicles and Kia Motors 12 million vehicles as of last year.
Hyundai currently exports 19 models (excluding commercial vehicles) manufactured at home to 185 countries and has another 18 models produced and sold abroad.
Kia exports 18 models to 166 countries and manufactures abroad eight models targeting their respective markets.
Hyundai-Kia has also completed a vast network for overseas production in a bid to overcome trade barriers and churn out vehicles that suit each market.
The two automakers’ annual production capacity amounts to 600,000 units each in the US, Europe and India, 1.44 million units in China, 100,000 units in Turkey, 200,000 units in Russia and 150,000 units in Brazil.
Hyundai-Kia has sold more than 12.2 million cars in the US, the world’s largest auto market, and 6.6 million vehicles in China as of late last year. Their sales in Russia, Brazil, India, the Middle East and Africa also rose sharply.
Korean automakers produced 4.56 million cars at home last year, the world’s fifth largest volume by nation.
Whereas China, the US, Japan and Germany, which make more cars than Korea, as well as India and China, maintain their production volumes based on strong domestic demand, Korea exports nearly 70 per cent of the cars manufactured here.
Among the seven largest auto producing nations, Korea is the only one that exports more than 60 per cent of its domestically produced volume.
Korea’s auto industry accounted for 13.1 per cent ($71.8 billion) of the nation’s total exports last year, and posted a trade surplus of $61.7 billion, more than double the country’s trade surplus.
The export price per vehicle has been going up, and most of the auto parts used are Korean-made. Over 90 per cent of the components used in Hyundai-Kia cars are Korean-made.