Hyundai Aiming For 47 Percent Market Share In South Korea
Hyundai was able to achieve a 45 percent market share in South Korea in 2010, falling well below its target of 52 percent. Luckily, the failure to meet the target thanks to phenomenal growth from the Kia brand, owned by Hyundai and Kia’s new Optima and Sportage.
For 2011, Hyundai is targeting a more modest 47 percent with their new Grandeur sedan and the Veloster sports coupe. Hyundai’s main competitors, Daewoo and Renault-Samsung, lag behind Kia and Hyundai significantly. South Korea still remains Hyundai’s largest market despite phenomenal growth in the United States.
[Source: Reuters]
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