Hyundai to boost its market share in Europe to 5 percent by 2015 image

Hyundai Motor Co. aims to increase its European market share to 5 percent by 2015 from 3 percent now, its deputy European chief Allan Rushforth told a German newspaper.

“For next year, we have resolved to increase our market share in Europe to 3.5 percent,” Rushforth told German newspaper Handelsblatt.

Hyundai-Kia plans to lend force to its European effort by continually introducing new models through the first half of 2012. This month, it began sales of the i40, a mid-sized wagon targeting the Volkswagen Passat, which has traditionally dominated the European wagon market.

In early 2012, it will be presenting the i30 follow-up, produced locally at a plant in the Czech Republic.
And with new Hyundai models set to appear every year from now on, it seems the competition from Hyundai is only set to grow more fierce.

The European unit, based at Offenbach, Germany, was previously too concerned about competing with Toyota, Marketing Director Mark Hall said in an interview.

“We should be competing with Ford, Opel and these sort of brands,” he said.

Currently, Europe accounts for about 10% of Hyundai’s global sales.