Hyundai Defies European Economic Crisis, Records Best Ever First Quarter Sales

Whereas many carmakers are seeing their sales shrink in Europe due to the financial crisis, Hyundai managed to register a record number of new cars between January and March 2012 with 114,571 units. This represents an increase of 12.5 percent over the same period 12 months ago.

In contrast, the overall European new car market declined by 7.3 percent in the first quarter of the year. The Korean automaker now holds a 3.3 percent share of the market.

In addition to its best-ever first quarter sales, Hyundai also posted 50,131 new car registrations across Europe in March, which is another record for the company and an increase of 13.8 percent over 2011. In March, the overall European new-car market declined by 6.6 percent.

The i30 compact hatchback and station wagon, the ix35 crossover (Tucson in North America) and the ix20 tall supermini that are all built at the company's plant in the Czech Republic, accounted for more than 50 percent of Hyundai's European sales during the first quarter.

"Hyundai cars are designed, engineered and manufactured in Europe for Europeans - our performance in quarter one demonstrates how well this strategy is working," commented Allan Rushforth, COO of Hyundai Motor Europe.

"Another European car, the New Generation i30, has just gone on sale and we expect this new model to drive us towards our market share goal of 3.5% by the end of 2012."

View orginal artical here- Hyundai