Hyundai Aslan, Kia K9 cruising

Hyundai Motor president Kim Choong-ho at the launch ceremony for the Aslan premium sedan. / Yonhap

By Park Jin-hai

The two luxury sedans that Hyundai and Kia Motors launched to compete with imported German cars are off to a good start.

The Aslan, the front-wheel drive flagship sedan launched on Oct. 6, has sold 3,750 units.

Initially, Hyundai projected Aslan’s sales target at 6,000 and it sees no major problem attaining the goal.

It expects demand for the premium sedan to grow thanks to upcoming reshuffles of executives at major conglomerates toward the end of the year.

Hyundai Motor from the onset had said the car, a large luxury sedan that slots in between the Grandeur and Genesis, will make a good corporate executive car.

“The fresh demand from newly appointed executives will help us achieve the year-end sales target,” a company official said.

Its sister company Kia’s new K9 luxury sedan launched this month and has also been performing well in the market, selling 500 units so far.

The car, sold as the K900 and Quoris in overseas markets, is the carmaker's top-end car and has a rear-wheel drive configuration.

The 5-liter GDI Tau V8 engine, priced at over 80 million won, is increasing Kia’s market share.

“With 500 orders in 13 days since its launch, it seems that the new K9 has made a successful debut in the local market,” said a company official.

In comparison, its old model K9’s monthly sales averaged at 371 this year.

BMW, Mercedes-Benz, Audi and other imported brands have registered double-digit growth for the past couple of years.

The imported cars take a 14.2 percent market share in Korea.

Hyundai and Kia posted 69.5 percent in the first half of this year. It is the first time in seven years their half-a-year market share slipped below 70 percent.

In the fight to regain their market share, Hyundai and Kia Motors are beefing up their premium car segments.

Hyundai’s high-end Genesis sedan has seen its sales triple this year from a year earlier.