Hyundai Motor sees U.S. market share rebound to 4.7 percent in 2014

Reuters
John Krafcik, President and Chief Executive Officer for Hyundai Motor America, gets ready to unveil the HCD14 luxury concept at the North American International Auto Show in Detroit, Michigan January 14, 2013. REUTERS/James Fassinger

DETROIT (Reuters) - Hyundai Motor <005380.KS> expects its market share to bounce back to 4.7 percent this year from 4.6 percent in 2013, propelled by new models such as the revamped Sonata sedan and eased capacity constraints, the automaker's U.S. chief told Reuters on Monday. The South Korean automaker saw its U.S. market share declining since it had reached a record-high 5.1 percent in 2011, stymied by a lack of manufacturing capacity and newer models, and as U.S. and Japanese rivals made a comeback. David Zuchowski, Hyundai's former U.S. sales chief who took over from John Krafcik this month, also said it expects U.S. industry sales to reach 15.9 million vehicles this year, from last year's 15.6 million vehicles. He said the company would be able to "squeeze" more output from its manufacturing facilities in the United States and receive more cars from South Korea, as Hyundai plans to expand capacity in China and other countries. (Reporting by Hyunjoo and Norihiko Shirouzu; Editing by Bernard Orr)