The European automotive industry has underperformed the overall market in the third quarter of 2014, with a 11% decrease in market value compared to the previous year. Despite this, the industry still shows growth compared to the global market, with a 6% increase in sales and a 14% increase in market value in Europe. The strongest growth was seen in Mercedes-Benz Cars, which achieved a 13% increase in sales compared to the previous year. BMW also had a strong quarter, with the best third quarter in its history. Volkswagen's passenger car division also saw growth, with a 3% increase in sales compared to the previous year. However, Skoda and Seat, which are part of the Volkswagen group, experienced a relatively disappointing quarter, which impacted the overall growth of the company. General Motors had the highest quarterly sales since its bankruptcy in 2009, thanks to successful sales in the US, successful price setting, and a strong dollar. Hyundai, on the other hand, experienced a 2% loss in sales compared to the previous year due to strikes, a high won, and sales problems.
