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

Article by Christian Andrei, 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:

Comments

Login or Create new account to add a comment!

Recommended

Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 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