The European new-car market has endured a slow start to the year, in January 2013 falling 8.5% compared to the same period last year. Hyundai however, bucked that trend by increasing its market share from 3.3% last year to 3.6%. The target now is to stabilise or even increase on the significant 3.5% market share Hyundai gained throughout 2012.
Hyundai has been on a self-improving rampage over the last five years, introducing 15 new models to the European market including the fabulous Veloster Turbo pictures above. With the entire model range now up to date, Hyundai will be moving its focus away from chasing numbers, and towards consolidating its new position through qualitative growth.
Key to achieving that target are maintaining the now much-improved Hyundai brand image and increasing customer satisfaction to improve retention rates. The company is absolutely determined to keep the customers it worked so hard to win in recent years.
Heavy investments are crucial to future growth too, and Hyundai has that well covered. Its Turkey plant is currently undergoing a €475 million (RM1.95 billion) expansion to increase its output potential from 120,000 to 200,000 cars a year.
The company’s European headquarters are also undergoing expansion, while a €5.5 (RM22.6) million test centre next to the Nürburgring race track in Germany will allow the quality and dynamic performance of Hyundai’s European-designed vehicles to be further improved.