Hyundai expects auto market in Europe to be flat in 2011

Article by Christian A., on November 16, 2010

Europe's car market will be flat in 2011 (the first half of which will be “particularly tough”) and will begin to grow again only in 2012, according to Hyundai Europe Vice President Allan Rushforth who spoke at the Reuters Global Autos Summit.

The outlook for car sales in Europe is cloudy due to uncertain economic prospects. In addition, most of the scrapping schemes in Europe and the US have ended while emerging markets continue to perform very strongly.

At the Reuters Summit, which was held at the Reuters office in Paris, Rushforth said that the company will likely achieve a 2.7% market share in a market of around 13.49 million. He added that next year, the market will be ”pretty much the same as this year.”

Hyundai aims to exceed its market share beyond 3% by the end of 2011. In 2009, Hyundai had a 2.4% market share in Europe. Rushforth anticipates that within three years, the group will achieve a global market share of over 5%.

He expects that the wider European autos market will gradually recover as the effects of scrappage schemes continue to fade. [via autonews - sub. required]

Topics: hyundai, europe, sales

If you liked the article, share on:

Pin It

Comments

Recommended

The German automaker Volkswagen is now racing against time to come up with electric vehicles that will be able to pass Europe and China's stringent emission standard. The car company...
by - March 22, 2017
In the last few years, the advent of compact sedans and crossovers has become quite overwhelming. Even two of the major manufacturers that “started it all” have to admit that...
by - March 22, 2017
By 2020, Audi will be throwing out not just one but three fully-electric vehicles. One of which will be pitted against the BMW i8. This new information was revealed by...
by - March 22, 2017
Tesla confirms that they will be discontinuing the fairly new Model S 60 and 60D sedans as soon as next month. Why, you ask? The company wants to make enough...
by - March 22, 2017
Have you ever wondered how much luxury car companies profit from every vehicle they sell? And which companies profit more? Well, in 2016, Porsche sold over 238,000 vehicles. That is...
by - March 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries