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Hyundai Defies Euro Downturn; Pushes Up Profits

Strong demand from buyers on a budget helps deliver big surge in earnings.

by on Jul.26, 2012

The Hyundai i30 helped the Korean maker counter the overall downturn of the European car market.

You’d have a hard time telling there are any problems in Europe if you’re only looking at Hyundai’s sales numbers.  Despite the Continent’s economic crisis and the sharp downturn in overall sales, demand for the Korean makers products jumped during the second quarter – driving a 10% increase in the maker’s overall earnings.

Hyundai is one of the few brands that has proven relatively immune to the European crisis that has nations like Greece and Spain on life support while even Germany’s auto market is feeling the economic pinch.  The Korean carmaker appears to be benefiting from its reputation for bargain pricing even as it launches a wave of well-received new products, such as the i40 sedan and ix35 crossover.

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Hyundai’s strong performance comes in sharp contrast to most of the rest of the industry. Ford reported a 57% downturn in Q2 profits, largely the result of European losses, while General Motors is expected to post a major loss in Europe next week. Volkswagen saw earnings rise for the quarter, but largely due to foreign sales with senior executives admitting the situation on the Continent is worsening.


Hyundai Aims to Conquer Europe with i40

Competitors beware.

by on Mar.02, 2011

Hyundai pushes premium with the new i40.

Be afraid, be very, very afraid, or so Hyundai seems to be saying as it rolls out the new i40 at the 2011 Geneva Motor Show.

The new model is part of an aggressive product offensive that the Korean carmaker hopes will help it duplicate its stunning success in the American market into a surge of European gains.

In 1994, when I first visited the Hyundai design studio in Seoul, I was amazed to see a slew of drawings on the wall, with names I could not read, but the dates indicated the car manufacturer was dead set on becoming an important player on the global market by 2005.

Now, Hyundai Motor Company is the world’s fourth largest automaker.  During the past seven years the brand’s market share has shown a steady increase – notably in Europe, where imports have had an uphill battle.