Hyundai, Kia led a 17th straight gain in monthly global sales in November

Article by Christian A., on December 2, 2010

Two of South Korea's biggest automakers, Kia Motors Corp. and Hyundai Motor Co., led a 17th straight gain in monthly global sales in November as new models helped boost sales.

Kia, which is a Hyundai affiliate, increased sales 33 percent to 222,116 units. In a statement made to the Korea Exchange, Hyundai said that it sold 314,569 vehicles last month, 1.4 percent more than a year earlier.

Sales outside South Korea rose 5.5 percent, while domestic sales fell 13 percent partly because of an Ulsan plant strike, which reduced deliveries to dealers.

Industry-wide sales for South Korea's five automakers, which also include GM Daewoo Auto & Technology Co., Ssangyong Motor Co. and Renault Samsung Motors Co., climbed 4 percent to 633,758 vehicles in November. Overseas sales grew 20 percent and domestic sales dropped 3.4 percent.

A Seoul-based analyst at LIG Investment & Securities Co., Park In Woo, says that sales outside of South Korea remained brisk, helping offset slow growth rate at home.

He adds that demand in China, Russia and the U.S. will help boost sales in 2011. Hyundai rose 3.8 percent to close at KPW179,000 in Seoul trading, while Kia gained 3.2 percent to KPW50,500. The benchmark Kospi index rose 1.3 percent.

Topics: hyundai, kia, sales

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries