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View All Press Releases| SED2011 | 23 Apr 2010 |
Hyundai is confident of renewed sales growth and will be back at SED 2011
Hyundai Heavy Industries Europe is looking to renewed growth in sales during the next financial year. The company saw sales fall in 2009 as the recession hit, resulting in large stocks of unsold machines.JW Hwang, managing director of Hyundai Heavy Industries Europe said, “Last year we struggled a lot.”
The company’s unit sales hit 3,200 machines in Europe at the peak in 2007 but fell 25-30% in 2008 and further still for 2009. The firm reckons that it will sell 1,500 machines in 2010.
Hwang is optimistic for the firm’s performance and said, “This year we think we will reach our target.” He added that the company may well beat its European sales targets for 2010.
The firm has now sold off the excess stock that accumulated as a result of the downturn and Hwang said, “…and now we are importing from Korea and increasing our back orders.”
The company intends to grow its business organically rather than by mergers and acquisitions. Hwang said, “M and A are not our style.” He continued, “I am very confident we can continue to grow. Our goal is a 10% market share.”
On the back of the good news, Hyundai has secured the largest stand st SED 2011– a whopping 72m x 24m!
Liesbeth Boels is Hyundai’s new marketing and communication specialist; she said “We have committed to exhibit at SED because we think it brings great value for our dealers and customers. Our participation enables us to stay on top of the latest industry trends, gain market insights, make key industry contacts, and solidify relationships with current customers. At next year’s SED we will show some of our new 9 series excavators and wheeloaders, which we are launched at this year’s Bauma.”SED 2011 at Rockingham Motor Speedway, Corby Northamptonshire from 17th – 19th May 2011.
HYUNDAI HEAVY INDUSTRIES EUROPE
Liesbeth Boels
Marketing / Communication Specialist
www.hyundai.eu
Tel +32 14 562 236
Fax +32 14 593 405
Email Liesbeth.Boels@hyundai.eu
