- Hyundai market share up to 3.8% in February
- Company looks to stabilise its share at 3.5% this year
- Focus on qualitative enhancements to encourage future growth
Hyundai increased its share of the European new car market to 3.8% last month, according to figures released by European motor industrybody, ACEA. Hyundai registrations rose by 1.4% to 31,753 units compared to the same period last year, while the overall market in February fell by 10.2%.
Allan Rushforth, Senior Vice President and COO of Hyundai Motor Europe, commented: “Although we do not anticipate continuous growth this year, we are satisfied with our performance so far in 2013. Our focus is to maintain our 3.5% share of the European market, while working hard on our long term projects to develop our brand image and increase customer loyalty by enhancing the Hyundai experience.
“Achieving these goals will lay firm foundations for future Hyundai growth in Europe from 2014 onwards, by which time we expect the European car market to be showing signs of improvement.”
Hyundai has made significant investment to strengthen its European business infrastructure recently – with a view to enhancing the quality of its operations.
The Hyundai plant in Turkey is currently undergoing a €475 million investment to increase its annual capacity from 120,000 to 200,000 cars a year. The company’s European headquarters are also undergoing expansion, while a €5.5 million test centre located next to the famous Nürburgring race track in Germany will allow the quality and driving performance of Hyundai’s Europe-designed vehicles to be further improved.
