[THE INVESTOR] Hyundai Motor and Kia Motors increased their market share in Sweden last year, a state-run trade agency said on April 12.

Hyundai and Kia sold a combined 31,532 vehicles in Sweden in 2016, gaining an 8.47 percent share in the passenger car market.

The figures were up from 26,288 units and a 7.62 percent share a year earlier, data by the Korea Trade-Investment Promotion Agency.

“A combination of increased disposable income, low unemployment and low interest rates allowed customers to open up their wallets to buy a new car,” KOTRA said.

By Song Seung-hyun and newswires ()