Car manufacturers and the iPhone generation

548 More

Earning the right to be successful

535 More

Knowledge is power

609 More

Selling cars – it’s all about timing

852 More

Truemag

  • Home
  • About
  • Advertise
  • Archives
  • Contact
  • Subscribe

Hyundai-Kia replace Toyota as Europe largest Asian car maker

South Korea’s Hyundai Motor Group has now surpassed Toyota as the largest Asian car manufacturer in Europe this year after the Japanese company’s sales tumbled on recalls.

Hyundai and affiliate Kia South boosted European sales by 4% in the first 10 months to 521,369 units, according to data released last week by the European Automobile Manufacturers’ Association. Toyota sales, including its Lexus premium brand, plunged 17% to 511,754 units.

The Seoul-based group has withstood the slump in demand for cars in Europe this year as it took advantage of the popularity of its cars with the various government back scrappage incentives. The car maker has also won market share in the US from Toyota after the Japanese car maker 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 automotive analyst at Tong Yang Securities Inc. in Seoul. “They have also expanded their model lineups in European markets giving more choices to consumers.”

Overall car sales in Europe have fallen 5% this year to 11.6 million units, according to the car makers group with Nissan posting the biggest increase among the major brands, with sales climbing 13%.

Hyundai and Kia’s combined market share in Europe totalled 4.5% through to the end of October, an increase of 0.4 percentage points from a year earlier. The market share of Toyota, the world’s biggest car maker, declined to 4.4% in the same period from 5%, according to the car makers association.

The Korean car manufacturers 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.

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

Nov 22, 2010MTI
  • Hyundai reach sales of 5 million in Europe
  • Toyota still the world’s biggest car maker
  • Hyundai-Kia ease past Toyota to be top Asian car maker in Europe
  • Hyundai recall 140,000 Sonata’s in the US
  • Ford increased market share in Europe highest since 1999
  • Toyota European sales down 26 percent
  • Marketing cars online, answers on a postcardCherished plate transfers can be a nightmare for dealers
    MTI
    10 years ago Manufacturers, News42
    Most viewed
    Top 100 UK Dealer Groups
    38,740 views
    The car sales process and the “9 point plan”
    10,817 views
    webuyanycar review – They will buy any car but beware of the asterisk
    5,493 views
    Most commented
    Car sales and the power of silence…
    25 Comments
    Car dealers still not prepared to play the “we buy any car” game
    23 Comments
    A Traders Tale – Part Four
    22 Comments
    Win a pre-loaded Ipod Shuffle!
    19 Comments
    Bargain of the Week – StreetKa 1.6i Luxury
    14 Comments
    Bridal Hair Berkshire
    Fox Body to 2018 Mustang Parts
    and Accessories
    About MTI

    Motor Trade Insider
    is written by people working actively in the motor trade for people on the inside and people on the outside.

    Our aims
    Build a bridge between consumers and the trade, create Interesting and informative content, break down barriers and create better understanding, expose bad practices and rip-offs and promote outstanding products and service.
    Have something to say?
    We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please contact us if you would like us to consider you. Make sure you give us details of your own blog or a link to some articles you have written.
    2017 © Motor Trade Insider
    Truemag theme by StrictThemes