Hyundai Build On Success
Hyundai Build On Success
January 17, 2014
Over the last few years Hyundai Motor has gone from strength to strength. They now offer a full range of very well received cars ranging in price from well under £10,000 for the New Generation i10 up to almost £20k and beyond for the superb i40. Throw into the mix the vivacious Veloster, the on-trend ix35 and the massive i800 people carrier and there is, as they say, something for everyone.
To build on this success story the Company is preparing for significant growth in European sales from 2015 onwards, following a period of intense investment in its regional infrastructure. A combination of qualitative enhancements and new products will support the company’s aim to achieve 5% market share in Europe by 2020.
Allan Rushforth, Senior Vice President and COO of Hyundai Motor Europe, commented: “The primary aim for Hyundai in 2014 is to continue enhancing the quality of our operations in the region –laying the foundations for a new growth period from the middle of the decade. Many European markets are over the worst of the economic crisis, but recovery will be slow, particularly in the first quarter. Recovering economies will fuel consumer confidence, helping Hyundai to achieve its qualitative targets and providing a firmer basis for profitability. As in 2013, we will continue to develop our sales organically rather than pursuing market share gains at any cost.”
In 2013, Hyundai invested more than €500 million into its operations in Europe, and opened two new facilities: a test centre next to the famous Nürburgring track (BTW, watch out Bernie’s coming!) and the purpose-built headquarters of Hyundai Motorsport in Alzenau, home of the Hyundai Shell World Rally Team which hopefully will provide some strong opposition to the mighty VW WRC outfit.
Hyundai also expanded its headquarters near Frankfurt and its production facility in Turkey, allowing for production of the New Generation i10 and raising the company’s European annual production capacity to 500,000 vehicles. Now, 95% of all Hyundai vehicles sold in Europe are designed and developed in the region, and 90% are now built in the Czech Republic and Turkey.
So good luck to them. The only real fly in the ointment is that DriveWrite has yet to see any Hyundai vehicle appearing in his diary. Surely an oversight?
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