Hyundai Targeting 5 Percent Market Share For 2011

Hyundai Targeting 5 Percent Market Share For 2011

Hyundai is looking to capture 5 percent of the U.S. car market in 2011, amid projections that show greater overall sales for new vehicles in the coming year.

With Hyundai sales up 24 percent in 2010, and a market share of 4.6 percent, the new target is certainly reachable, especially with new products like the Elantra and Accent compacts. The company will also cut fleet and rental sales from 17 percent to around 13 or 14 percent. Fleet sales help boost overall sales figures but are less profitable due to automakers selling vehicles in bulk.

[Source: Reuters]