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Hyundai Motor CEO bullish about Europe sales in 2012

Hyundai Motor CEO bullish about Europe sales in 2012
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First Published: Fri, Sep 02 2011. 11 48 AM IST
Updated: Fri, Sep 02 2011. 11 48 AM IST
Seoul: The chief executive of Hyundai Motor offered a bullish sales outlook for Europe next year, saying the South Korean automaker may be able to boost its sales by a quarter to 500,000 vehicles in 2012.
Hyundai Motor’s Europe executive previously said it aimed to reach the target in 2013, but CEO Steve S Yang expected the company may achieve the goal earlier than expected should sales remain favorable.
A spokeswoman confirmed Yang’s remarks made earlier during a launch event for its i40 model in South Korea on Thursday.
The automaker is seeking to accelerate sales and gain market share during the current economic slowdown and debt crisis in Europe, as it did in the United States during the global financial crisis, analysts said.
Hyundai Motor launched the i40 model this month in Europe, and plans to unveil a successor to the i30 compact, its best-selling model in Europe, at the upcoming Frankfurt Motor Show.
“The C-segment model, the new i30, will compete with Opel’s Astra and will be produced at our plant in Czech Republic like the current model,” another Hyundai Motor spokeswoman said.
The South Korean car maker aims to boost its total vehicle sales in Europe by 10.5% to 400,000 units this year.
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First Published: Fri, Sep 02 2011. 11 48 AM IST
More Topics: Hyndai Motor | Auto | Carmaker | Europe | Sales |