Hyundai draws even with Nissan
- European sales in Q1 2006 amount to 82,520 units (ACEA figures)
- Hyundai No. 2 import brand in Europe, together with Nissan
Rüsselsheim, April 27, 2006 – According to 1st quarter 2006 data of the Association of European Car Manufacturers (ACEA), Korea-based Hyundai Motor Company has drawn even with Nissan to become the second most popular import brand in Europe (EU 23 + EFTA). In an increasingly competitive European market Hyundai’s passenger car registrations climbed by 1.3 per cent in a year-on-year comparison, reaching 82,520 units year-to-date.
Hyundai Motor Europe’s Vice President, Gerry Dorizas, commented on the development: “Drawing even with Nissan is a prerequisite for further success, since the No 2 is naturally perceived to be superior to No 3. Much more important, however, is the fact that we have managed to further strengthen our position in a very competitive market that is witnessing fundamental shifts in the traditional hierarchy.”
Hyundai’s recipe for success has been to maintain high sales numbers with its core vehicle program, while gaining additional market share - and image - with new models that attract customer groups interested in high-end products. European consumers have seen high-end vehicle prices climb in recent years, to the extent that this category of vehicles is moving beyond the purchasing power of private buyers. Not surprisingly, growth in this business has occurred, to a large extent, in fleet sales. Hyundai’s recent move up-market presents opportunities to private purchasing of high-end vehicles. Albeit not inexpensive, vehicles like the all-new Santa Fe, the Sonata and Grandeur are more affordable for middle-class Europeans than its competitor models and this constitutes major growth opportunities for the world’s No 7 car manufacturer.
Hyundai’s new high-end D- and E-segment sedans Sonata and Grandeur have produced good sales results so far and the company anticipates the new diesel versions to reach even more consumers. In addition, the well-received new Santa Fe European style SUV is expected to fortify Hyundai’s No 3 position in the European SUV market. Says Mr. Dorizas: “The new Santa Fe has been welcomed with comments such as ‘the rising star in Europe’s SUV market’ and this is a very promising signal for a successful launch.”
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Hyundai Motor Europe GmbH (HME) was established in 2000. Located in Rüsselsheim, Germany, it coordinates all marketing, sales and aftersales activities in all of Hyundai’s 26 European markets. It employs nearly 200 people of various nationalities. Hyundai is the second largest Asian automobile brand in Europe, with an annual European sales volume of approximately 350,000 vehicles. More information on Hyundai Motor Europe is available in the internet at http://www.hyundai-motor-europe.com.
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