Hyundai And Kia Expect Slower Growth

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Hyundai and Kia have been the fast growing auto brands for two years now. They offer affordable quality much as Toyota (NYSE: TM) and Honda (NYSE: HMC) have for the last three decades. As Honda and Toyota suffered recalls and slowing production due to the Japan earthquake sales of the South Korean brands have surged.

Kia and Hyundai brand sales should slow to a 6% rate which would bring their total sales this year to about 7 million. This would put the brands behind VW, Toyota, and GM (NYSE: GM) in global sales totals.

According to Reuters,

The South Korean carmakers enjoyed sales gains in the United States, Europe and other key markets last year when their Japanese rivals suffered from Japan’s earthquake and Thailand’s floods as well as the strong yen.

Hyundai and Kia sold 6.6 million vehicles in 2011, beating their earlier target of 6.33 million and up 15 percent from the previous year.