SEOUL, KOREA- Hyundai Motor is set to release as many as 22 new cars in Europe by 2017. Hyundai Motor disclosed its “Project Momentum 2017” strategy at the Frankfurt Motor Show that opened on September 10.
At the Motor Show, Mercedes-Benz, BMW, Volkswagen, Audi, and Toyota released a variety of eco-friendly cars that feature excellent fuel efficiency, including pure electric vehicles and hybrid cars.
A Hyundai Motor official said, “To achieve the goal of a 5-percent market share in Europe, Hyundai Motor will release 22 kinds of new models in Europe within the next four years.” Hyundai Motor saw its sales in Europe grow by 10 percent per year over the past two years, with its market share rising to 3.4 percent last year from 2.6 percent in 2010.
The growth pace of Hyundai Motor’s market share there, however, slowed in the first half of this year when its market share reached 3.6 percent. Hyundai Motor expects the 22 new models in boosting its market share there again.
The first among them is the i10 that Hyundai Motor revealed first at the Frankfurt Motor Show. The i30 is a follow-up model of the i10 that the company released in 2008.