Hyundai UK plans big investment to make the company a top five sales brand.

• Hyundai Motor UK outlines vision for future growth
• New products to spearhead growth in 2015 and beyond
• Investment in dealer network and brand engagement to attract new customers

Hyundai Motor UK today has set out its vision for continued growth in 2015 and beyond.

After another record year in 2014, during which the company sold over 80,000 cars in the UK for the first time, Hyundai has outlined its short, medium and long-term plans for future growth.

In the short-term, Hyundai Motor UK is targeting 100,000 annual registrations, with a medium-term goal of 5% market share. In the long-term, the company aims to secure a Top 5 sales position among all car brands in the UK.

New product launches, continued investment in the dealer network and increased public engagement via key cultural and sport partnerships will help the company achieve its goals, according to Tony Whitehorn, President and CEO of Hyundai Motor UK.

Presenting the company’s vision, Whitehorn said: “Hyundai has undergone something of a transformation in recent years - and we’ve tripled sales in the UK since 2008. But that’s not enough - we want Hyundai to grow into something more, and we do that by offering more cars that people want to buy.”

Hyundai plans to launch several new models in 2015. The supermini New Generation i20, which went on sale a week ago, will be joined later in the year by the new i20 Coupe, New i30 and i30 Turbo and New i40, amongst others. Diversifying the split of core model sales is key to the company’s growth strategy as it moves towards 100,000 UK sales – 20,000 each of i10, i20, i30 and ix35 with the final 20,000 models made up by the rest of the range.

All new models will feature the latest technology and features developed by Hyundai engineers in Germany and Korea. The company announced a £48 billion investment (80.7 trillion KRW) in new facilities (49.1 trillion KRW) and R&D (31.6 trillion KRW) earlier this month, while a recent study by Thomson Reuters IP & Science found that Hyundai had posted the biggest increase in the number of patent filings among global carmakers over the last five years.

As well as attracting new customers with new models and technologies, Hyundai is going through the process of revamping its UK dealer network with a new showroom identity - designed to offer visitors an excellence experience that matches the quality of the brand’s new models. 

This approach extends to an understanding of how today’s consumer operates - the digital store Rockar was opened towards the end of 2014 and offers motorists a completely new way to buy a car.

Hyundai will also engage consumers through a series of sporting and cultural initiatives this year and beyond. As well as the long-term agreement with Tate, Hyundai has been a sponsor of FIFA football tournaments for more than 15 years, and will remain an official partner until at least 2022. After a hugely successful inaugural year in the World Rally Championship, Hyundai is hoping to build on its successes on the road and with motorsport fans in 2015.

“We’re a young company and have the freedom to do things a little differently,” added Whitehorn. “We need to take this as an opportunity to reach out to more people and build advocacy for the Hyundai brand.”

The carmaker is one year into an unprecedented 11-year partnership with Tate, one of the world’s top art institutions. The collaboration - which is founded upon Hyundai’s and Tate’s commitment to worldwide innovation - is the longest of its kind in Tate’s history.