The Registrations of Hyundai vehicles in Germany attained a value of 105,051 Units in 2020
The indicator recorded a historical decline (CAGR) of 1.08% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Vehicle industry in Germany post pandemic
The German car manufacturing industry, which is the largest in Europe, declined in both value and volume terms over the historic period. The industry suffered a particularly steep decline in 2020 amid the COVID-19 pandemic. The industry looks set to recover in the forecast period. Like much of the rest of Europe, car sharing start-ups have dented growth in Germany’s sales, as an increasing number of Germans, especially those belonging to the younger segments of society, opt to share vehicles rather than purchase their own due to financial restraints or environmental reasons. Car2Go, which is owned by Daimler AG, is a prime example of a successful car sharing platform that has cemented its position, especially in the urban centers of Germany.
Hyundai Motor Co (Hyundai) is an automobile company. The company designs, develops, manufactures, and distributes motor vehicles, trucks, buses, special utility vehicles and chassis, trains, and automotive parts. Hyundai also provides vehicle financing and credit card processing services. Hyundai markets products under Veloster, Venue, Azera, i40, Elantra, Tucson, Accent, Kona, Creta, Sonata, i20, ix20, and other brands. It has operations across North America, Asia Pacific, Europe, and other regions. The company has manufacturing facilities in the US, Russia, China, Korea, Turkey, India, Czech Republic, and Brazil. Hyundai is headquartered in Seoul, South Korea.
Products & Services
Its products and services widely range into Cars, Passenger Cars, Sedans, Hatchback, SUV, Eco, Sports Utility Vehicle, Commercial Vehicles, Special Transport, Special Vehicle, Bare Chassis, Auto Parts and Accessories, Power Trains, Financial Assistance and Services, Car Services, Logistics, and Card Processing.
The company offers a wide variety of brands like – Centennial, Genesis, Genesis Coupe, Veloster, Azera, Santa Fe, i40, Elantra, Accent, etc.
Corporate Strategy
The company focuses on development of new products, technologies, and businesses. It also aims to upgrades its products, production, and sales across the world; an enhance the markets for strengthening its future core business areas.
The global economy is witnessing deepening uncertainties these days. They include a prolonged low growth trend and concerns about the growth of trade barriers in major countries. The automobile industry is also facing a wave of rapid change, due to accelerating technological innovations and intensifying competition. In response to this landscape, Hyundai Motor will make whatever management adjustments are necessary to improve the profitability of our operations. We will also lead future innovations in the automobile industry by continuously expanding our R&D activities and investing in new technologies and businesses.
These steps will include upgrading our worldwide management system by pursuing a detailed and integrated strategy in terms of products, production, and sales in each of our major markets. This will allow us to respond proactively to the differing needs of customers around the world. We will also continue to open new markets, including the ASEAN region, where rapid economic growth is expected to occur. In addition, we will strengthen our strategic directions in relation to our future core business areas.
Another of our goals is to establish a detailed roadmap that will allow us to introduce a large number of electric vehicles by 2025. This will begin with our next-generation fuel cell electric vehicle and will also include EVs with significantly increased mileage ranges. Our goal here is to firm up our position as a leading maker of eco-friendly vehicles at a time of their increasing popularization.
Vehicle registration scenario
Hyundai has remained consistent in ninth and tenth position in total vehicle registrations in Germany from 2015 to 2020. However, globaldata predicts its ranking to remain consistent or improve during the forecasted period.
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