Hyundai increases its European Market share by 10%

Despite a weak car sales market across Europe, Hyundai has managed to increase its market share in January 2013 by almost 10 per cent.

As we reported just the other day, the European car market is in a bit of a mess with sales down by 9.6% in January 2013 and even the mighty sales of the VW Golf – Europe’s best-selling car – dropping by 17.8 per cent.

But despite the European car market falling back, Hyundai has managed to increase its market share in Europe by almost 10 per cent, from 3.3 per cent in January 2012 to 3.6 per cent in January 2013.

Despite an increase in market share, Hyundai did see total registrations in January fall by 2.2 per cent, but when you compare that to the falls other mainstream makers suffered it’s a strong performance. VW was down 12 per cent, Peugeot 17 per cent, Citroen 17 per cent and Ford a painful 25 per cent.

Hyundai aren’t looking to make massive sales increases in Europe in 2013 (which is probably wise in the current climate) but are expecting to stabilise their sales at a 3.5 per cent market share whilst concentrating on building the Hyundai ‘Brand’.

Hyundai’s Alan Rushforth said:

Following an intensive product launch period in which we introduced 15 new models to the European car market in five years, our aim for 2013 was to consolidate our position and strengthen the fundamentals of our business through qualitative growth.

“Therefore, as well as maintaining our European market share, we’re focusing on enhancing the Hyundai brand image and increasing customer satisfaction in order to improve retention rates – we’re determined to keep the customers we worked so hard to win in recent years.

Hyundai are also spending heavily in Europe to maintain market share, with the Hyundai plant in Turkey getting a £410 million investment to up capacity to 200k cars a year, Hyundai’s HQ is getting bigger and a new Hyundai test centre at the Nurburgring is being constructed.

Onwards and upwards for Hyundai.