Hyundai Motor Co. Ltd. (005380.KS: Quote, Profile, Research) has room to grow its share of the U.S. auto market, with independent research showing almost a quarter of new car buyers considering the South Korean brand, an executive said on Thursday.
Hyundai U.S. sales have risen 5 percent so far in 2006, putting the company behind only Japan's Toyota Motor Corp. (7203.T: Quote, NEWS, Research) and Honda Motor Co. Ltd. (7267.T: Quote, NEWS, Research) in sales gains. The company ended 2005 with a 3 percent share of the U.S. market.
John Krafcik, Hyundai Motor America vice president for product development and strategic planning, said that the number of U.S. car shoppers who indicated that they would consider Hyundai had more than doubled to 23 percent currently from 11 percent in 2003.
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