The target is more than 3% of the market in 2008 and its share grew from 0.35% (volume 7,109) in 1990 to 1.47% (37,611) last year.
This month, the manufacturer took control of UK distribution and formed Hyundai Motor UK, part of Hyundai Motor Europe.
HMUK replaces Hyundai Cars UK, a subsidiary of RAC plc, bought this year by Aviva plc, owner of Norwich Union Insurance.
Ray Pope, HMUK managing director and finance director of the old company, says: “We can now invest more money and time into ensuring we have one of the country’s best car retail networks.”
One analyst says: “Hyundai’s products are improving, and so is its brand value, but South Korean makes still have relatively low appeal in Europe compared with, say, VW and Renault.
“That makes price-cutting the most likely way to increase sales, especially as Hyundai already offers a five-year warranty. Doubling market share and sales is certainly feasible.”
Another analyst says: “There is likely to be more promotional activity. Hyundai now wants growth, whereas Lex/RAC was more interested in short-term profit. Hyundai will become more aggressive, putting more pressure on European volume manufacturers, especially Fiat.”
HMUK plans to publish a strategy plan before the end of August. This is likely to include the launch of a recruitment drive for more sales outlets. HCUK had planned to grow from 152 main and nine satellite dealerships to 165 and 12.