Kia Motors Corp. and Hyundai Motor Co. are expecting their combined European sales to increase 12.4 percent this 2011, surpassing previous estimates even with the economic problems in the region. Kia intends to sell 293,000 units this year, compared with its previous target of 285,000.
On the other hand, Hyundai projects sales of 405,000 vehicles in the region, an increase from its earlier goal of 400,000. Earlier this month, Hyundai stated that it expected to beat its worldwide sales target for 2011, thanks to the global economic uncertainty that gives the company an opportunity to accelerate sales and grab wider market share.
In August, the Hyundai-Kia duo achieved a record monthly market share of 5.8 percent in the European region as its sales gained by 20 percent in the market, which expanded 8 percent.
From January to August, Hyundai sales increased 9.1 percent to 254,819 units, making it Europe's third bestselling Asian brand based on the data of European industry association ACEA. Kia was the fourth bestselling brand with 175,806 sales, which is an increase of 3.7 percent from the previous year.
Hyundai Motor Group's chairman, Chung Mong-koo, stated that aggressive marketing should be carried out in order for new strategic models for Europe to drive sales.
Previously perceived as a manufacturer of bland but economical vehicles, Hyundai-Kia has addressed problems in reliability and design in recent years. However, the two companies have become a stellar performer even with the worldwide financial crisis and have emerged as formidable rival to vehicle manufacturers around the world.