19 Jun '11, 4pm

DTN Singapore News: Hyundai to sell 500,000 cars in Europe by 2013: FRANKFURT - HYUNDAI Motor Co plans to boost

FRANKFURT - HYUNDAI Motor Co plans to boost its European new-car sales to 500,000 by 2013, up nearly 40 per cent from 358,284 in 2010, the Korean automaker told Automotive News Europe. 'Our medium-term forecast is to sell half a million cars by 2013 and, beyond that, to achieve 5 percent market share by 2015,' Hyundai Europe chief operating officer Allan Rushforth told Automotive News Europe, according to an excerpt of an interview to be published in the magazine's June 22 edition. Mr Rusforth further said that he regarded Opel, the European brand belonging to General Motors , as a key rival. The Korean maker sees the overall European market declining, but plans to boost production at its plant in Nosovice, Czech Republic, to roughly 300,000 units by year-end. -- REUTERS

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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