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UPDATE 1-Hyundai targets 5 pct share in U.S. in 2011
February 7, 2011 / 3:38 AM / 7 years ago

UPDATE 1-Hyundai targets 5 pct share in U.S. in 2011

SAN FRANCISCO, Feb 6 (Reuters) - Hyundai Motor Co’s sales in the United States could jump 10 percent in 2011, helping the automaker’s retail market share edge over 5 percent, its top U.S. sales executive said on Sunday.

“We would like this year to be our first year above 5 percent retail market share,” Hyundai Motor America President and CEO John Krafcik told Reuters in an interview.

Hyundai’s 2010 sales rose 24 percent to about 538,000 vehicles, which gave it 4.6 percent of the overall U.S. market share. Krafcik said Hyundai’s retail share in 2010 was 4.9 percent.

He added that the company is projecting that bulk sales to rental companies and businesses will be between 13 percent to 14 percent of its total sales this year. In 2010, fleet sales made up 16 percent to 17 percent of total sales. (Reporting by Deepa Seetharaman and Bernie Woodall; Editing by Anshuman Daga)

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