The Economic Times of India reports that Hyundai is worried about Europe. Hyundai Europe’s Vice President, Allan Rushforth, felt positive about 2010. “This year we’ll probably achieve 2.7 percent market share in a market of around 13.49 million,” he said. But with regards to 2011, he poured cold water on that year. “Next year will be really interesting. We have yet to see scrappage washout – the year-on-year effects of scrappage from the reported registration data…..I think the first half-year will be really, really tough.”
Reuters has a different story. They cite a European vice-president Allan Rushforth, who says that Hyundai will nearly double its share of the European car market to five percent in three years by leveraging the untapped potential of its brand. That Rushford said that Hyundai volume in Europe has reached “critical mass” thanks to its success selling into the aforementioned car-scrapping schemes, allowing it to “enter a new stage of supercharged growth.”
Who’s in their crosshairs? GM. “The difficulties that Opel GM.UL have experienced over the past one and a half years have given us an opportunity. They’ve lost market share and we’ve stepped into that vacuum, along with others,” this Rushford said.
And then there’s Toyota.”There’s no doubt we are increasingly on the Toyota owners’ shopping list when it is time to replace their car.”
Sure, the European market size is expected by Rushford (and just about everybody else) to be flat in 2011 at around 13.5 million vehicles, with a particularly tough first half, and will start to grow again only in 2012. But Hyundai wants a bigger chunk of it.
Maybe there are two Rushfords. Rushford and his evil twin who talks to the Indians?