Hyundai (HYMLF.PK) and Kia (KIMTF.PK) continue to lose market share in South Korea to foreign...

|About: Hyundai Motor Co., Ltd. (HYMLF)|By:, SA News Editor

Hyundai (HYMLF.PK) and Kia (KIMTF.PK) continue to lose market share in South Korea to foreign brands as sharply lower tariffs make exports cheaper for local buyers. Foreign automakers now account for 41% of the market, up from 28% just two years ago. The trend is most pronounced in the luxury market where BMW (BAMXY.PK), Audi (VLKAY.PK), and Mercedes-Benz (DDAIF.PK) are all picking up market share steadily.