If you’re curious as to why you’ve probably been seeing a lot of Hyundai and Kia vehicles on the road, well that’s because they’ve just hit a milestone in terms of worldwide auto sales.
Hyundai Motor Company and its affiliate Kia Motors will combine to reach vehicle sales of 100 million units globally this month after selling a total of 99.7 million units in March since they started selling automobiles in 1962.
Kia brings in 35.68 million units while Hyundai covers the rest with 64.02 million units and a joint statement by both companies confirm that they expect to reach 100 million by April 2016.
Sales of both companies have been on the rise consistently – topping 10 million in 1993 and breaching 50 million in 2008.
The last 16 years were the most profitable for both companies. Of the 100 million units sold, 78.54 million units or 80% were sales from the year 2000 and onwards.
Together, both companies sold a combined 8 million units annually for two straight years until 2015, making them the world’s fifth largest automaker in sales.
Auto exports accounted for more than two-thirds of both companies’ total auto sales after it began to surpass domestic sales in 1998.