[AutoDaily] Hyundai-Kia motor registers negative growth (1.0% ↓) in European market.
Last November on European Market (EU and EFTA), the company sold 57,497 units a decrease of 4.5 % compared with the previous year. Hyundai record 30,470 units 7.8% dropped sharply, Kia sold 27,027 units 0.5% decreased.
Although Hyundai released new i30 onto Europe started mass production since September, there was a huge plunging sales. On the other hand, Kia called Song Ho-sung, executive director of development business headquarter in Hyundai, to head of Europe Corporation on September, then sees how things go. The cumulative sales for Hyundai decrease 2.1%, but for Kia are slightly up 0.4%.
European auto market had been growth since September to November. Compare to that, it seems slump that Hyundai-Kia’s record.
There are three group showed the growth on recent European market.
The Volkswagen and Renault emphasize reasonable-priced brand like Skoda, SEAT, and Dacia. Those cars effect on common people who suffered from depression.
BMW, Mercedes-Benz, Jaguar Landrover, and Volvo are the striking brands, because those premium brands are low-impact on recession.
In this polarized situation, Japanese automakers such as Toyota, Nissan, Suzuki, and Mazda began to emerge as the rising sun based on a low exchange rate of the yen.
The European automakers - PSA Peugeot Citroen, Fiat, and Opel- carried out an intensive restructuring. The companies have almost done their improvement of industrial structure. Next year’s European market will show keen competition.
By Shin Seungyoung.
(Translate by Lee Yeseul)
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