Jump to content

Hyundai-Kia surpasses Toyota as biggest Asian carmaker in Europe


NINETY EIGHT REGENCY

Recommended Posts

Hyundai-Kia surpasses Toyota as biggest Asian carmaker in Europe

Automotive News Europe -- November 22, 2010 12:34 CET

SEOUL (Bloomberg) -- Hyundai Motor Group has surpassed Toyota Motor Corp. as the largest Asian carmaker in Europe this year after the Japanese company’s sales tumbled on recalls.

Hyundai Motor Co. and affiliate Kia Motors Corp., South Korea’s two biggest automakers, boosted Europe sales 4 percent in the first 10 months to 521,369 vehicles, according to data released last week by the European Automobile Manufacturers’ Association. Toyota sales, including its Lexus premium brand, plunged 17 percent to 511,754.

The Seoul-based group has withstood slumping European auto demand this year as it lures drivers with the ix35 sport-utility vehicle and the i30 and cee’d compacts. The carmaker has also won market share in the U.S. from Toyota after the Toyota City- based company recalled more than 8 million vehicles worldwide for repairs related to unintended accelerations.

“Hyundai and Kia have clearly benefitted from Toyota’s massive recalls,” said Ahn Sang Joon, an auto analyst at Tong Yang Securities Inc. in Seoul. “They have also expanded their model lineups in European markets giving more choices to consumers.”

Overall auto sales in Europe have fallen 5 percent this year to 11.6 million, according to the automakers group. Nissan Motor Co. has posted the biggest increase among major brands, with sales climbing 13 percent.

Hyundai-Kia share

Hyundai and Kia’s combined market share in Europe totaled 4.5 percent through October, an increase of 0.4 percentage points from a year earlier. The market share of Toyota, the world’s biggest automaker, declined to 4.4 percent in the same period from 5 percent, according to the automakers association.

The Korean automakers’ European sales may climb even more next year as they are preparing to introduce new models specifically designed for the region, said Kim Byung Kuk, a Seoul-based analyst at Daishin Securities Co.

Hyundai fell 4 percent to close at 180,500 won in Seoul trading today, while Kia dropped 2.3 percent to 50,600 won. Hyundai owns 34 percent of Kia. Toyota gained 1.1 percent to 3,300 yen in Tokyo.

Hyundai produces i30 compact cars at a plant in the Czech Republic and Accent small cars in Turkey. Kia makes cee’d compacts and Sportage sport-utility vehicles in Slovakia.

Hyundai’s U.S. sales have risen 21 percent this year, aided by a 64 percent jump in demand for the midsize Sonata, while deliveries of Toyota’s Camry dropped 6.3 percent and demand for Honda Motor Co.’s Accord fell 3.4 percent.

The Seoul-based automakers’ combined global market share will climb toward a record 8 percent this year and exceed that figure next year, Edaily reported last week, citing Hyundai Motor President Yang Seung Suk.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20101122/ANE/101129993/1198#ixzz161meRpro

Link to comment
Share on other sites

Hyundai Group Overtakes Toyota as the Biggest Asian Carmaker in Europe

MONDAY, NOVEMBER 22, 2010

i30_300_19.JPG

Battled by a series of recalls and dipping sales, Toyota is slowly becoming a shadow of the company that dethroned General Motors in 2009. And with Volkswagen's mind clearly set on world domination, it can't be good news for the Japanese maker that it also lost its top position among Asian makers in Europe, to Hyundai Motor Co. and affiliate KIA Motors Corp.

The two Korean companies sold a combined 521,369 vehicles in the first ten months of 2010, a 4% improvement over the last year, earning them the title of the biggest Asian carmaker in Europe with a market share of 4.5%. Meanwhile, Toyota's figures, including Lexus sales, dropped by 17% to 511,754 units, which accounts for 4.4% of the European market.

To their advantage, Hyundai and KIA have a more diversified range with the likes of the ix35 SUV, i30 and cee'd compacts, and momentum on their side, as all those recalls and controversy is costing Toyota an arm and a leg, not to mention the bad publicity.

"Hyundai and Kia have clearly benefited from Toyota's massive recalls," said Ahn Sang Joon, an auto analyst at Tong Yang Securities Inc. in Seoul. "They have also expanded their model lineups in European markets giving more choices to consumers."

Furthermore, analysts think that Hyundai Motor Group's sales may climb even more in 2011, seeing that it'll launch models specifically tailored for European taste.

Excellent North American sales are the icing on the Koreans' cake: Hyundai grew by 21% in the U.S. this year, with the Sonata spearheading the success, having a 64 percent jump in demand. And there's more to come with the new Elantra sedan, Azera mid-sizer and Veloster small coupe, just to mention a few of the debuts planned for next year.

Toyota, on the other hand, is on a downward slope, with sales dropping 6.3 percent in the U.S. this year. Nevertheless, we wouldn't be so quick to write off the Japanese brand yet as you never know what the future may bring.

link:

http://carscoop.blogspot.com/2010/11/hyundai-group-overtakes-toyota-as.html

Link to comment
Share on other sites

Hyundai-Kia overtakes Toyota as biggest Asian automaker in Europe

by Jeff Glucker (RSS feed) on Nov 23rd 2010 at 7:01PM

hyundai-1290475021.jpg

European car buyers have a favorite Asian automaker, and its name is no longer Toyota. Hyundai and Kia have tag-teamed to best the longtime Japanese automaker, with a four percent overall rise in total units through the first ten months of 2010. During that same period, Toyota-Lexus sales have fallen 17 percent, with Hyundai at 521,369 vehicles sold compared to 511,754 for Toyota.

Toyota's recent tough road, along with the expanding number of quality offerings from Hyundai-Kia, have allowed the Seoul train to slide past the Japanese brand. Unless Toyota picks up the pace, that gap could widen because the Korean company is understood to have a greater number of new models planned for its European portfolio.

Of course, Hyundai has a long road ahead if it wishes to make the same claim here in the States, but it's certainly moving in the right direction. Overall sales in the U.S. have risen 21 percent and demand for the redesigned Sonata has jumped 64 percent.

link:

http://www.autoblog.com/2010/11/23/hyundai-kia-overtakes-toyota-as-biggest-asian-automaker-in-europ/

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...