Hyundai Continues To Defy European Slowdown With Double Digit Increases In 2012

Hyundai bucked sluggish markets in Europe and China and boosted sales in the United States, driving quarterly net profit up by almost a third to $2.15 billion, its highest since changing accounting methods a year ago.

The South Korean carmaker, which with affiliate Kia Motors is the world's fifth largest, said it expects to beat an aggressive sales target for Europe - of an increase of 15.4 percent to 465,000 vehicles this year - even though the market is seen falling 5 percent.

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