Hyundai 2006 Annual Report Download - page 42

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Sustaining Global Management
38
Europe
• MARKET CONDITIONS & PERFORMANCE
The Association of European Car Manufacturers (ACEA) rated Hyundai as the number two
import brand in Europe for the first quarter of 2006. This accolade translated into continued
strong sales throughout Europe in 2006. The ACEA recognition was the first in a series of
region wide accolades which indicated strong growth and performance in the European
market.
In 2006 Hyundai reached number three in the European SUV market, a position we expect to
maintain with the success of the new European style Santa-Fe SUV. In some European
countries Hyundai has even reached number one in overall SUV sales. In addition we ranked
in the top five by consumers in Belgium, France, Italy, Portugal and Spain in sales of all
vehicle brands in all classes. This is a remarkable achievement considering our relative
youth in the highly saturated and competitive European market.
Our commitment to quality and customer first management was recognized in Germany
where German car magazine Autobild named Hyundai dealerships as the best in service
inspection tests following studies and analysis by ‘mystery shoppers’.
The HMC mantra throughout the European market has been our brand promise to this
specific yet incredibly diverse market – “Quality, Self-Assured and Inspiring”.
• INVESTMENT & PRODUCTION
The future of investment and production in Europe is underpinned by an ambitious plan to
construct a plant in the Czech Republic capable of producing 300,000 cars and 600,000
transmissions per year. Not only will this plant provide vehicles for Europe’s already strong
and emerging car markets but it will dramatically impact the Czech economy as HMC has
committed to a EUR one billion investment in the country.
It is expected the impact of this investment will add 1.5 percent to the Czech Republic’s GDP
at stage one of the investment and 2.5 percent in stage two. The scale of this plan is
enormous and will have far reaching impacts for the European market, the Czech Republic
and the entrenching of the Hyundai in the European marketplace.
‘04
64,356
‘06
53,500
‘05
71,140
‘04
340,490
‘06
341,551
‘05
350,406
9.3
9.9
8.7
2.1
2.2 2.1
Total Sales (Units)
Market Share (%)
Total Sales (Units)
Market Share (%)
Total Sales &
Market Share
in W. Europe
Retail Sales &
Market Share
in Turkey(HAOS)