AM Online

Hyundai sets out its vision for growth

After a record year in 2014, Hyundai has outlined its short, medium and long-term plans for future growth.

In the short-term, the Korean brand is targeting 100,000 annual registrations, its medium-term goal is to have a 5% market share and in the long-term, the company aims to be amongst the top 5 car manufacturers in the UK.

It’s only January and Hyundai has already launched one new model, the all-new i20. A new i20 Coupe is expected in March, which will be a completely different model to the five-door. A new i30 and i30 turbo are also coming and the new i40 is expected in April, plus there’s also a new 'secret' product which will be revealed around the time of the Geneva Motor Show in March. And not forgetting its all-new premium saloon; the Hyundai Genesis, which will be on sale from April 2 - you can check out our image gallery of the model here.

The company’s strategy to reach 100,000 UK sales is to spread them across each segment, with 20,000 sales of each the i10, i20, i30 and ix35 with the final 20,000 models made up by the rest of the range.

Back in 2012, 41% of Hyundai sales were inclusive of the basic trim level, last year that was down to 9%, showing the appeal of the brand’s increased quality.

As well as attracting new customers with new models and technologies, Hyundai is revamping its UK dealer network with a new showroom identity. Vantage Hyundai in Stockport was one of the first to get the makeover and roll-out expected across its current dealer network of 160 dealers over the next few years. Five new dealers will also come on board in 2015, taking its total dealer network to 165.

President and chief executive of Hyundai Motor UK Tony Whitehorn said: “Hyundai has gone through a huge transformation in recent years and we've tripled our sales in the UK since 2008. But that’s not enough, we want Hyundai to grow into something more.

"It will be a challenging year ahead in terms of the economy and UK car market because of the uncertainty surrounding the General Election. But, so far there has been a consistent increase year on year in terms of car sales in general in the UK since 2012. 

"We will continue to invest and conduct research into what our customers want. The new technology we have used in our all-new premium saloon; the Genesis, will also feature in upcoming models, such as the new generation i40 – our focus is to offer more cars that people want to buy – the best advert a car manufacturer can ever have is cars on the road.”

Click here for manufacturer best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.