Hyundai tempers its ambitions in Europe image

Due to the unending fall of the car sales in the traditional European zone, Hyundai is scaling back its growth ambitions for the time being, but the South Korean automaker has only postponed its mid-term goal, not abandoned it.

Hyundai Europe Chief Operating Officer Allan Rushforth talked about the brand’s goals with Automotive News Europe – Hyundai now aims to increase its market share to 5% from 3.5% by the end of the decade instead of by 2015. If it achieves the target, Hyundai’s share would be equal to that of the Citroen and Fiat brands.

Talking about the region’s downturn, Rushforth said, “Our sales are down but at a slower rate than the market. This year will be a year of consolidation for us. We aim to keep our market share at the 3.5% level we achieved in 2012 and to keep our European plants in the Czech Republic and Turkey operating at 100% capacity.”

The 53 years old COO thinks Hyundai can still grow – after a big push in volumes now comes a more settled strategy that aims to refine the brand in Europe, and they will “grow organically based on products, design, value for money and quality”.

Via Automotive News Europe