Hyundai extends partnership with Business Lease, targeting further growth across central Europe

Offenbach, January 28th 2010

Hyundai has renewed its agreement with fleet management company Business Lease to continue supplying the brand’s cars across central Europe. The new two-year deal runs from January 2010 and will see the increasingly attractive and competitive range of Hyundai cars offered to corporate customers in key markets, including the Czech Republic, Slovakia, Hungary and Poland.

The terms of the relationship were finalized when company representatives met in Germany to sign the new contract.

“We are very pleased to have renewed our established and successful partnership with Business Lease,” said Allan Rushforth, Vice President of Hyundai Motor Europe. “This agreement highlights our commitment to continued growth in the leasing sector, and we will continue to share intelligence with Business Lease in order to develop new and innovative ways of building our presence in the European fleet market.”

The renewed agreement with Business Lease is part of Hyundai’s ongoing objective to secure additional sales volume and consolidate European market share. In 2009 Hyundai achieved strong growth in Europe, and total market share rose from 1,8% to 2,4%.

Fleet prospects for Hyundai have been enhanced by recent improvements in residual values, most notably following the arrival of the i-models: i10, i20 and i30. Together with extended service intervals on a range of vehicles, improved RVs have led to ever-more competitive figures for total cost of ownership of Hyundai cars.

The spring launch of the all-new ix35 compact SUV will further boost the company’s fleet offering.