Despite that expected slide in U.S. market share, the Hyundai brand posted relatively strong numbers during the first-half, even surpassing the Ford brand in terms of retail passenger car sales. However, Hyundai U.S. CEO John Krafcik believes there is still plenty of room to grown in the coming years.
Hyundai's slice of the U.S. market declined from 5.1 percent to 4.9 percent during the first six months of the year. Krafcik previously warned that the automaker's U.S. market share could slide as Chairman Chung Mong Koo implemented a quality assurance program that limited total vehicle production.
Hyundai's U.S. sales grew to a company record 356,669 vehicles during the first half, although the company's 10 percent improvement lagged behind the overall market's 15 percent sales gain. Hyundai will add capacity to its Montgomery, Alabama factory later this year, which should ensure the Korean automaker will crest the 700,000 mark in full-year sales.
