speedflex

Impressive considering the Japanese big 3 have had a longer presence in Europe. For those wondering, the ix35 is basically the Hyundai Tuscon in the U.S.

Hyundai-Kia Beat Toyota in Europe Sales on Demand for ix35 SUVx, Compacts
By Sookyung Seo - Nov 22, 2010 4:49 AM CT


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.

spwolf

Two beat one :-).

I think Hyundai and Kia together get a lot bigger lineup of vehicles to sell in Europe, while Toyota lineup is all aging. They are also all priced 20-30% less than Toyota so they dont really compete in the market at all.

Of course, Toyota is doing worse than 2 years ago but it has nothing to do with Hyundai really - Auris and Yaris are now in their 4th-5th year on the market, recalls did not help, and Rav4 demand plummeted from 2008 due to >10 new competitors crowding the market. None of new Toyotas have been hit really either (Verso, LC200, LC140, Avensis).

speedflex

True, although they are counting Lexus division sales too as part of Toyota. Toyota may well recover the #1 spot. But Hyundai Corp. continues to make a mark as a serious force worldwide.

spwolf

Lexus barely sells anything, i think 10th best Toyota in Europe outsells complete Lexus lineup.

Not sure what #1 spot do you mean? Toyota is #1 in the world... They never were #1 in Europe.

speedflex

This part.

LexFather

Spwolf is saying Hyundai GROUP's improved products which are cheapear should sell better. Hyundai+Kia should outsell Toyota. Hyunda+Kia should outsell Nissan. Hyundai+Kia should outsell Honda.

It is 2 mainstream brands vs one. Including Lexus doesn't much since its a luxury brand. Even if Scion was included, its a small niche brand.

That said it does say a lot about Hyundai/Kia's continued rise since this is moral victory for the company. Maybe Toyota will offer more of what Europeans want since some of their products there aren't well received.

spwolf

i dont think that matters at all...

spwolf

yeah, but they are not really competing to be best asian brand in Europe, they compete for largest possible market share and profits. Right now here in Europe, it is all about the price and discount, nothing else on the table, it is not good market for Toyota.

Hyundai on the weak won manages to sell "Elantra" for the price of Yaris. It is very different product mix than USA.

They dont really get cross-shopped, so Toyotas goal is not to be best selling asian brand in Europe, but to get to 10% market share (which they failed miserably).

speedflex

Well, using that logic Hyundai/Kia should outsell all the Asians in the U.S. but they don't. At least not yet.

I'm pointing out that the company is not just smoke and mirrors. Their rise to becoming a dominant force is real and measurable. I've thought so 10 years ago and any automaker with any ounce of insight should see them as a real threat... Toyota included. And offering value is not a weakness. It's a strategy to gain share and once you have share your next objective becomes market retention and Hyundai/Kia seems on a path to work that angle too. Capture defecting customers, retain them, and then move them up your product line over time.

bitkahuna

iTrader: (20)

i think hyundai/kia will outsell honda in the u.s. in a few years if things continue the way they are.

TRDFantasy

Impressive, very impressive for Hyundai.

Toyota needs to significantly increase their competitiveness in Europe.

speedflex

They're nipping at Nissan Corp's. heels already.