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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.

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Is this the New Hyundai Elantra Touring

Euro-spec i30 may have a place in Korean carmaker’s U.S. line-up.

by on Sep.07, 2011

The new Hyundai i30 may reappear in the U.S. as the next Hyundai Elantra Touring.

It’s not always easy maneuvering your way around the Frankfurt Motor Show.  Even if you speak fluent German it’s difficult to interpret some of nuanced news that comes out of the show.  Like whether the new i30 Hyundai plans to unveil next week will make its way to this side of the Atlantic and reappear as the new Elantra Touring model.

That does appear likely, however, as Hyundai officials have already hinted that a hatch/wagon model would follow to offer an alternative to the current Elantra sedan.  The challenge has been to come up with a 2-box variant that would maintain the 4-doors visual stopping power – as this advance image of the i30 suggests Hyundai designers have accomplished.

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“The new-generation i30 is recognizable thanks to the Hyundai family face with its signature hexagonal-shaped front grille and the jewel-like design of the headlamps, together with distinctive daytime running lights,” said Thomas Burkle, the maker’s chief European stylist. “These lights present an angular shape within a more softly-edged recess, adding a strong personality to the vehicle, as well as a sense of refinement and luxury.”

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