Hyundai has announced it will buy dealerships in Germany and France from Emil Frey, as part of its strategy to boost sales in Europe.
Based on the acquisition, Hyundai will establish two sales companies in Germany and France. In the first 10 months of 2011, the Korean carmaker sold 61,378 units in Germany (up 29%) and 19,000 units in France (up 12%).
A Hyundai spokesman said “With the establishment of sales corporations via takeover of dealers in Germany and France, we believe out competitiveness will strengthen in the European market”.
Hyundai has a market share of 2.9% in Europe in the first 10 months of the year, up 0.4% from the same period last year.
