Because of the shrinking market demand in Europe, Hyundai Motor has delayed its target of 5% market share in Europe in 2016, and will focus on consolidating the achievements in the European market.
Hyundai Motor sales in the European market maintained the steady growth in recent years, its market share in Europe has doubled in five years, to 3.5%, but because of the entire auto market downturn in Europe, the company was forced to postpone the target from 2016 to 2020.
Hit by the prolonged economic downturn and rising unemployment, many car companies in Europe bogged down in a quagmire, Hyundai Motor beat competitors by i30 and other models with higher price competitiveness, contrarian growth in the European market.
In the European Union in 2012, Hyundai Motor sold 414,827 cars, up 9.4% compared with the last year, its market share in Europe rose to 3.4% from 2.9%; Kia’s new car sales in Europe in 2012 increased 14%, the market share increased to 2.7% from 2.2%.
