Hyundai-Kia Closes on 15% of U.S. Car Market

The Hyundai-Kia Automotive Group is expecting its share of the U.S. market to pass 15% for the month of August, the company announced Monday.

Hyundai Motor and its subsidiary Kia Motors sold 72,440 passenger cars in the U.S. in July for a 14.6 percent share of the market. The new monthly record surpassed Toyota’s 13.7 percent share. The segment includes SUVs and mini-vans but excludes trucks and recreational vehicles.

For all of 2010 Hyundai-Kia claimed a 10.5 percent market share. Its share has risen during each successive month of 2011, hitting 11.9 percent in March and 13.1 percent in April for an average of 13 percent for the first seven months of the year. Toyota posted a 13.9 percent share over the same period.

Hyundai and Kia cars sold for an average price of $20,576 in July. Its average incentives of $1,452 per vehicle was lower than that of any other carmaker, according to U.S. car pricing search firm Truecar.com.