The South Korean auto giant Hyundai Motors has registered a 20 percent growth in its profits in the third quarter of this calendar year. The major contributors to this growth was record sales registered by the firm in the US and European markets. The total sales of the firm stood at 991,706 vehicles during this quarter, which includes the sales of Hyundai’s subsidiary Kia Motors. The total sales growth during this quarter was 9.6 percent.
As per the market watchers, the Hyundai Motors has managed to sustain in this current bad economic conditions, thanks to its efficient pricing strategy and new age futuristic styling of its cars. The company is expected to keep the same momentum during the fourth quarter of this calendar year. According to a recent statement given by Chung Jin-haeng, President of Hyundai, Hyundai and Kia would be able to beat sales targets set in 2011.
In India, Hyundai is the second largest car manufacturer following Maruti Suzuki. The company is aggressively expanding its India portfolio along with increasing its sales and service network. Hyundai has recently launched its much awaited small car EON in the Indian market, which is expected to boost the market share of the firm considerably. The Hyundai EON has been position as the cheapest Hyundai car in India, and it will be rivaling with India’s highest selling Maruti Alto model.
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