Hyundai says will not defend Europe market share at all costs

Korean auto maker Hyundai will seek to expand in Europe, but will not seek to maintain its market share at all costs, Allan Rushforth, Chief Operating Officer at Hyundai Motor Europe said on Tuesday. The Korean auto maker, which has development and production facilities in Germany, the Czech Republic and Turkey, currently has a market share of 3.5 percent in Europe. “Our primary aim is to continue enhancing the quality of our operations, even if it means we are not able to sustain our market share,” Rushforth said at a press conference on the outskirts of Frankfurt. Hyundai’s cautious approach to European expansion comes only days after U.S. rival General Motors (GM.N) said it will drop the Chevrolet brand in Europe by the end of 2015.

    

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