Caught off guard by Kia's product blitz last year, Hyundai is being more conservative about its 2011 market share goals.
Sibling rivalries affect nearly everyone, even massive multi-national corporations like Hyundai and its two main automotive divisions, Hyundai and Kia.
Last year, Hyundai - the division - predicted a 52 percent market share in its home market of South Korea, but it didn't anticipate a strong spurt in demand for Kia's products. As a result, Hyundai took home just 45 percent of the market and Kia captured 33 percent. The rest of the South Korean market was mostly composed of a mix between domestic Renault-Samsung and GM-Daewoo products and heavily taxed imports from Europe, Japan and North America.
For 2011, Hyundai is being a bit more conservative by aiming for a modest increase to a 47 percent share of the market.
Despite considerable growth in the North American market, South Korea remains the biggest source of revenue for all of its domestic brands.
1.'Hyundai says targets...' view