Hyundai expects 2023 to be the most successful year ever in Europe. Sales are on track for top figures, according to the CEO of Hyundai Europe. It is just not as big as sister brand Kia, but Hyundai is also doing very good business in Europe. Last year Hyundai took a market share of 4.6 percent in Europe (compared to 4.8 percent for Kia) That expects Hyundai Europe CEO, Michael Cole.
An interview with Cole indicates that in 2023 it will still have a smaller market share than last year, but that does not tell the whole story, according to him. “We did a much better job in 2022 than most of the others in managing our inventory, so we delivered cars much faster. What you saw in the first six months of this year is that many car manufacturers’ sales rebounded strongly as they were hit so hard in the first half of 2022. As a result, we lost some market share at Hyundai, but we are not worried.” On the contrary: Cole is counting on record numbers when this year is over. “I believe this year will be a record year for us, even though the industry is still about 20 percent behind 2019.”