Posts Tagged market
Hyundai Quarterly Profit Dips 10%
Posted by alibabarika in Automotive Articles on July 6, 2011
The Hyundai Motor Company said that net profit declined for a fifth straight quarter as sales plummeted because of labor strikes and intense competition in China. Hyundai, a leading Korean automaker, said last Wednesday that net profit in the first quarter that ended March 31 had fallen by 10.2 percent to 307.4 billion won or $329.22 million, down from 342.39 billion won a year earlier, the company said in a statement.
Last year’s first-quarter figure was revised up from an initial 318.83 billion won due to changes in South Korean accounting regulations, said Hyundai spokesman Jake Jang. Quarterly sales declined 2.6 percent to 6.684 trillion won or $7.16 billion. The first quarter results for the world’s sixth-largest automaker was worse than anticipated. The average estimate of eleven analysts surveyed by the Dow Jones Newswires forecast that Hyundai would report a net profit of 392.70 billion won or $421 million.
Global Auto Trends Heading Your Way
Posted by alibabarika in Automotive Articles on July 6, 2011
Until recently, the U.S. auto market was insulated from what took place in much of the rest of the world. Passenger vehicles built in North America, particularly in Canada and the United States, were often different from what car manufacturers built in Europe, Asia, South America and elsewhere.
Auto Trends
Strong Start for Skoda
Posted by alibabarika in Automotive Articles on July 6, 2011
In 2010, Skoda UK reported a record sales year achieving new vehicle registrations of over 41,000 units, up 10.5% when compared to the previous year whilst also achieving a record 2% market share. In January 2011 Skoda UK achieved sales of over 3,000 units, an increase on 2010, and maintained a +2% market share including sales in Skoda Nottingham.
Globally Skoda has sold 68,400 units, which when compared to January 2010 is an increase of 26.4% when 54,100 units were sold. The two most popular models were the Skoda Fabia and Skoda Superb which increased by 30% and 80% respectively. This huge increase can be partially attributed to the massive growth seen in China, India and Russia.
Toyota Motor Company Developing Low Cost Car
Posted by alibabarika in Automotive Articles on July 6, 2011
As far as automakers are concerned, the three most important emerging markets are China, Brazil and India. Many of the world’s largest automakers have started to focus their expansion efforts on these three countries and for good reason. China has helped Audi expand its sales growth the most, and the company has recently overtaken Mercedes-Benz in sales this year. Most of this is thanks to its long time successful operations in an exploding Chinese auto market.
Many automakers are making cars especially for their customers in these markets and the Toyota Motor Company is following suit. Toyota is currently in the developing stages of a new low cost car made specifically for customers in China, India and Brazil. The price of the car is set to cost around $11,000 making it more affordable for the masses. With such a low price car Toyota has the chance of gaining a massive amount of sales in these countries with some of the largest populations in the world.