Hyundai welcomes Germany and France
to European subsidiary family
Offenbach 18th November 2011
Hyundai has announced that its distributor operations in Germany and France have become subsidiaries of the company, establishing platforms for future business success in both countries and reaffirming the automaker’s commitment to growth in the highly-competitive European market.
Previously run by the Emil Frey Group, the operations in Germany and France join seven other Hyundai subsidiaries in Europe and will be known as Hyundai Motor Deutschland and Hyundai Motor France.
The two new additions mean the company now owns businesses in each of the five largest car markets in Europe, with subsidiaries in the UK, Italy, Spain, Germany and France.
Since Hyundai started selling cars in Germany 20 years ago, the company has sold over 750.000 units via its national dealer network, making it the automaker’s biggest-selling European market. More than 300.000 Hyundai cars have been sold in France since operations began there in 1992, taking the cumulative sales of both countries more than one million units.
During the first nine months of 2011, Hyundai has sold over 69.000 units via its dealers in Germany –representing a 30% increase over the same period in 2010. Similarly in France, sales of 16.700 units across the company’s dealer network year-to-date have resulted in a 12% increase year on year. These figures represent nearly 25% of Hyundai’s total European sales in 2011 so far.
Hyundai reached a major landmark in Europe earlier this year, when an i30 made at the company’s manufacturing facility in the Czech Republic became the 5 millionth Hyundai to be sold on the continent since sales began in 1977.
Allan Rushforth, Senior Vice President and COO of Hyundai Motor Europe, commented: “We are pleased to welcome the newly-established operations in Germany and France to the Hyundai family, with both markets contributing significantly to our ongoing success in Europe. The Emil Frey Group has been a major contributor to developing the Hyundai brand in these countries, and we thank them for their achievements and hard work.
“By establishing Hyundai subsidiaries in the major European markets, we will ensure high standards are maintained, with customers continuing to enjoy first-class service at our dealerships across Europe. Our aim is to be number one manufacturer for customer satisfaction in the European auto industry, and the establishment of new subsidiaries will drive us onwards towards this goal,” Allan Rushforth added.