koreajoongangdaily.com

Hyundai, Kia poised to gain from Japanese automakers' setbacks

Kia logoKia
Sig2.24Sen+2.46Env0.00Soc0.00Gov0.00
Hyundai logoHyundai
Sig2.35Sen+2.85Env0.00Soc0.00Gov0.00

Korean automakers could absorb replacement demand in key overseas markets as Japanese rivals deal with weakening sales and prolonged production disruptions after a powerful earthquake. Toyota is expected to report second-quarter operating profit of $7.04 billion, down 5% from a year earlier, for a fifth straight on-year decline, with sales falling about 30% in China and the Middle East and about 16% in Oceania. More than 10,000 vehicles may be affected; hybrid sales jump over 50%. Observers see an opening for Korean firms to expand share as

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