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Hyundai On Course For Market Share Gains In 2010

201003170000 No. 64

Hyundai on course for market share gains in 2010


Offenbach, March 17th 2010


Hyundai has increased its European market share level to 2,6% during the first two months of 2010, which is up from the 2009 full-year figure of  2,4%.  Figures supplied by automotive industry body ACEA reveal that February was Hyundai’s twelfth consecutive month of growth in Europe, with sales of 26.144 units – equivalent to a year-on-year increase of 3,9%.  The total European new-car market grew by 3,2% in February.


Cumulative sales of Hyundai cars for the first two months of 2010 have increased by 24% to 54.118 units, while the market has risen by just 8%.  The company’s objective is to hit 2.75% market share by the end of the year.


Allan Rushforth, Vice President at Hyundai Motor Europe, said, “We’ve made a good start to the year, taking major steps towards achieving the targeted 2,75% market share for 2010.  The next few months promise to be quite challenging, as we witness the results of the various scrappage schemes around Europe coming to an end.  But, as year-on-year sales fall across the industry from next quarter, Hyundai will still have the products and marketing initiatives to achieve stable volumes and market share growth.”


The recently-launched ix35 and face lifted i30U – both offered with the company’s new ‘Triple 5’ warranty and assistance package – afford Hyundai the opportunity to limit the effects of a potential dip in European car demand.


“The ix35 and i30U will help us to increase our market share during a period of decline in the overall market, and we will introduce more fuel-efficient derivatives of both models later in the year to retain our positive momentum,” added Rushforth.



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