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European Auto market: Japan up, Korea down

Lory From GAS| January 19,2007

The report released by the ACEA says that Japan vehicles grew fast in European market in 2006 while Korea vehicles were descending.

The sales volume of Toyota of Nov, 2006 was 69,079 units and 833,488 units of from Jan to Nov, up 10.2% compared with previous period. Nissan raised by 5.7% from Jan to Nov and by 7.9% in Nov, 2006.

However, Korean vehicles declined in European market. Hyundai sold 21,529 units in Nov, down 3.8%. The sales volume of first 11 months was 278,631 units, down 5.2%. The sales volume of Nov of Kia was 4.5% down while that of first 11 months 10.7% down.

The analysts thought the main causes were Yen depreciation and Korean dollar appreciation and the Korean workers strikes.

The data ACEC released includes the information of 23 members of EU.

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