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Hyundai Europe says brand to hit 2018 targets despite price wars

Auto News - Published on Thu, 13 Dec 2018

Image Source: Automotive News Europe
Auto News reported that the new Kona has been the main reason for Hyundai's sales growth in Europe this year. Hyundai’s electric offensive in Europe has gotten off to a good start with the success of the full-electric version of the Kona SUV. The automaker plans to launch more electrified vehicles by the end of 2020 and has not suffered from the transition to new emissions standards under the Worldwide harmonized Light vehicle Test Procedure (WLTP). But the price war underway in Europe might force the automaker to revise its ambitious targets downward. Hyundai Europe Chief Operating Officer Thomas Schmid shared his views on this blurred picture with Automotive News Europe Correspondent Andrea Malan.

Every carmaker has been challenged by the massive drop in diesel share. Prior to that, most of us were quite confident we would comply. Our countermeasure is to launch even more electrified cars to compensate [for the loss in diesel share]. According to our current calculations, we are doing well. As far as 2025 and 2030 are concerned, nobody knows.

Across Europe diesels still command a more than 40 percent share, thanks to Italy. But in countries such as France, there is a political movement to move away from diesels, mostly in big cities. We try to be prepared for everything. We have good gasoline and diesel engines. Next year we will launch another two electrified vehicles [both hybrids] as well as another [electrified model] that will be completely renewed. To sum it up, we are trying to be prepared to satisfy customer demand in every market. But it’s fair to say that is very challenging and very expensive. So far, Hyundai hasn’t suffered as much as the market because we launched our new diesels. But it’s hard to compete with the emotional side of the consumer.

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Posted By : Joykumar Irom on Thu, 13 Dec 2018
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