Hyundai CEO bullish on European sales, wants to hit 500,000 next year

Hyundai i40

Hyundai Motor CEO is pretty bullish about the company’s sales outlook for Europe in 2012. Steven S Yang said that Hyundai may be able to increase sales in the region by a quarter to 500,000 vehicles in 2012. Hyundai’s European arm previously said that it aims to reach that target by 2013, but Yang says the company may reach the goal sooner than expected if sales remain strong.

Yang made the comments during the launch of the new Hyundai i40 model in South Korea.

Analysts say that Hyundai is looking to boost sales and increase market share in Europe during a time of economic slowdown and debt crisis. Hyundai did the same in the United States during the global financial crisis.

Hyundai will launch a successor to the i30 at the 2011 Frankfurt Motor Show, the company’s best-selling model in Europe, later this week.

This year, Hyundai has goals of increasing European sales by 10.5 percent to 400,000.

– By: Omar Rana

Source: Automotive News