Hyundai plans to take control of its German imports

Article by Christian A., on November 22, 2011

Hyundai Motor Co. intends to have control of its German imports by buying 65 percent of Hyundai Motor Deutschland GmbH from Emil Frey, the Swiss vehicle dealer. Chang Kyun Han, President of Hyundai Motor Europe, disclosed that with the takeover, the company is "effectively following the incorporation of the biggest and most important importer" into the company.

Having a market share of 2.9 percent, Hyundai is the third largest Asian brand in Europe after Nissan and Toyota, according to the European vehicle industry organization ACEA.

Brand sales in Germany, which is Europe's biggest market, expanded significantly to 73,105 units through October from 19,610 in 1999, leading to a market share of 2.7 percent after 10 months, according to the German motor transport authority (KBA). Hyundai is aiming for sales of 80,000 vehicles in Germany for 2011. Since 1999, Emil Frey has owned a majority of Hyundai Motor Deutschland, which was founded in 1991.

In Germany, Emil Frey also imports Subaru units and operates a dealer network marketing a range of brands including Opel, Ford, Volvo and Fiat. In 2010, the company sold 257,977 autos throughout France, Switzerland, the Czech Republic, Hungary, Germany and Poland, making it the No. 2 dealer group in Europe.

The automaker stated that it will still be working closely with Hyundai in Germany, adding that the strategy, structure, work force and location would stay the same at Hyundai Motor Deutschland following the takeover on Jan. 1, 2012. [source: Autonews]

Topics: hyundai, germany

If you liked the article, share on:

Comments

Recommended

The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
In an interview involving Lamborghini CEO Stefano Domenicali and Automotive News, the topic about the Urus was thoroughly discussed. This super SUV is scheduled to make its debut later this...
by - June 23, 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