Hyundai Taps Brake in Europe

In a telling sign of the growing pain for auto manufacturers in Europe ahead of next week's Geneva auto show, Hyundai Motor Corp. said it is scaling back its growth outlook in the region to focus on defending its small share of the market.

The South Korean auto maker has pushed out its goal of taking 5% of the European market to toward the end of the decade from 2016. Hyundai's current market share is around 3.5% having nearly doubled in the past five years.

"Our target is [to keep a] 3.5% share this year," said Allan Rushforth, Hyundai's top ...

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