Hyundai and Kia to hit record 8M sales for 2014
 

<p>Filed under: <a href="http://www.autoblog.com/hyundai/" rel="tag">Hyundai</a>, <a href="http://www.autoblog.com/kia/" rel="tag">Kia</a>, <a href="http://www.autoblog.com/category/earnings-financials-1/" rel="tag">Earnings/Financials</a></p><a href="http://www.bloomberg.com/news/2014-11-24/hyundai-kia-to-sell-combined-record-8-million-vehicles.html"><img alt="The logo of Hyundai Motors display durin" data-caption="BUSAN, REPUBLIC OF KOREA: The logo of Hyundai Motors display during the Busan International Motor Show in Busan, southeast of Seoul, 27 April 2006. South Korean prosecutors sought an arrest warrant for the head of the Hyundai Motor group, the country's top automaker, following a month-long graft probe. AFP PHOTO/JUNG YEON-JE (Photo credit should read JUNG YEON-JE/AFP/Getty Images)" data-credit="AFP/Getty Images" data-mep="578791" src="http://o.aolcdn.com/dims-shared/dims3/GLOB/crop/2500x1659+0+15/resize/628x417!/format/jpg/quality/85/http://hss-prod.hss.aol.com/hss/storage/midas/4bff4a3346294412ad4d16369 8d4bd2d/201139654/57461677.jpg" /></a><br />
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<a href="http://www.autoblog.com/hyundai/">Hyundai</a> and <a href="http://www.autoblog.com/kia/">Kia</a> are on a sales charge in 2014, and parent company Hyundai Motor Group is increasing projections to a record eight million combined units for the automakers by the end of the year - a bump over the original target of 7.86 million vehicles.<br />
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According to <em>Bloomberg</em>, the <a href="http://www.bloomberg.com/news/2014-11-24/hyundai-kia-to-sell-combined-record-8-million-vehicles.html">key to the growth is beating expectations in Brazil, China and India</a>, and strong crossover sales are also helping the bottom line. In the US, both automakers are doing well this year. In October, Hyundai saw a six percent dip in monthly sales, but through the first 10 months it sold 607,539 vehicles, compared to 601,773 at this point last year. Kia has done even better with 489,711 units sold from January to October, versus 456,137 for the period in 2013.<br />
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The good news is a welcome antidote to negative headlines like <a href="http://www.autoblog.com/2014/09/18/hyundai-outbids-samsung-10b-gangnam-hq/">investors' anger over Hyundai's $10 billion land purchase</a> in Seoul, South Korea. The two automakers also had to pay a $300 million penalty to the <a href="http://www.autoblog.com/tag/environmental%20protectio n%20agency">Environmental Protection Agency</a> for <a href="http://www.autoblog.com/2014/11/03/hyundai-kia-300-million-mpg-penalties/">misstating fuel economy on some models</a>.<br />
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While sales may reach a new record, profits might not grow as much with them. The strong Korean won means that Hyundai and Kia have a tougher time keeping up profit margins compared to Japanese competitors with a weaker yen.<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2014/11/24/hyundai-kia-record-sales-2014-report/">Hyundai and Kia to hit record 8M sales for 2014</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Mon, 24 Nov 2014 18:30:00 EST. Please see our <a href="/rss-term-of-use/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2014/11/24/hyundai-kia-record-sales-2014-report/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/20998148/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2014/11/24/hyundai-kia-record-sales-2014-report/#comments" title="View reader comments on this entry">Comments</a>

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