BUSINESS

Hyundai, Kia outpace Toyota in European sales for 8th month

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  • Published : Nov 19, 2010 - 11:16
  • Updated : Nov 19, 2010 - 11:16

South Korea's Hyundai Motor Group beat its Japanese rival Toyota Motor Corp. in European sales in October for the eight consecutive month, industry data showed Friday.

   The combined sales of Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. came to 47,741 units last month, taking up 4.5 percent of the European automotive market, while Toyota sold 46,500 vehicles for a 4.4 percent share, according to the data compiled by the European Automobile Manufacturers' Association (ACEA).

   In the first 10 months of the year, Hyundai and Kia sold a total of 521,369 units in the European market, slightly higher than Toyota's sales of 511,754 units.

   Market experts predict that given the current pace, Hyundai and Kia may surpass Toyota in terms of sales this year in the European market.

   Hyundai Motor and Kia Motors saw its accumulated sales through October rise 3.8 percent and 4.8 percent, respectively, from a year earlier, but Toyota's sales dropped 16.5 percent over the cited period, the association said.

   German automaker Volkswagen Group dominated the market with a
21.4 percent share, trailed by France's PSA Peugeot Citroen with a 13.4 percent share and Renault SA with a 10.2 percent share, according to the data. (Yonhap News)



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