Hyundai to expand European market share to 3%

South Korea’s Hyundai Corp. expects its market share in Europe to exceed 3% in 2011, reports Auto, Motor und Sport, a leading German automobile magazine, citing Allan Rushforth, vice president of Hyundai Motor Europe. The company aims to accelerate its market growth in the region and exceed its 2010 target of a 2.75% market share next year. According to the report, the carmaker also aims to equip its model Hyundai Veloster, which is set to be launched in 2011, with a gasoline direct injector to compete with Volkswagen AG’s more expensive VW Scirocco model. (September 23, 2010)