Hyundai: The next Toyota?
05-16-05, 07:37 AM
#1
Speaks French in Russian
Thread Starter
Hyundai: The next Toyota?
For the entire story, please click here - http://www.detnews.com/2005/specialr...A01-182019.htm
SPECIAL REPORT: The next Toyota?
Upstart Hyundai guns for Big Three
Once seen as a joke, S. Korean automaker is now the world's fastest-growing.
By Christine Tierney / The Detroit News
SEOUL, South Korea -- Toyota Motor Corp. may scare Detroit's automakers, but there's one rival out there that worries Toyota.
It's South Korea's Hyundai Motor Co. Already the fastest-growing major automaker, Hyundai says it wants to supplant Toyota as the industry's vehicle quality leader in three years.
Such a goal sounds gutsy, coming from a carmaker that was a running gag on late-night TV not so long ago. But U.S. and Japanese auto executives take Hyundai very seriously now.
"We're always looking in our rear-view mirror, and they're one that's coming up quickly," said Dennis Cuneo, senior vice president of Toyota Motor North America Inc.
In just a few years, Hyundai has emerged as the industry pace-setter, after achieving huge strides in sales and quality -- and in about half the time it took Japan's leading carmakers.
The family-run automaker, which also controls Kia Motors, has leapt from 16th in the global sales rankings in 1998 to seventh last year, just behind DaimlerChrysler AG.
In the United States, the Hyundai Kia Automotive Group is clawing sales from the Big Three after winning customers with stylish vehicles, low prices and quality assurances backed by a 10-year powertrain warranty.
Hyundai owner Mike Ruggero, a Detroit restaurant supervisor, was first attracted to the brand by its long warranty but found the design and prices hard to beat. "The cars are very stylish and look like they should be a lot more expensive than they are," he said.
Ruggero bought a Santa Fe sport utility vehicle and later traded it in for a midsize Sonata sedan. So far, his family has owned four Hyundais.
"They (Hyundai) are very aggressive in the marketplace in terms of their investment and pricing," said Paul Ballew, General Motors Corp.'s executive director of global market and industry analysis.
Benefiting from lower production costs, Hyundai and Kia are hammering rivals in the "cheap and cheerful" small-car segments in North America and Europe.
The Seoul-based automaker also is expanding rapidly in the world's two most populous countries -- China and India.
Now, Hyundai is setting its sights higher, aiming to compete head-on with Japan's best carmakers and even planning some day to export luxury cars.
"We're tremendously confident about our future," Kim Jae Il, Hyundai senior executive vice president, said at the Seoul motor show last month.
Hyundai managers exuded self-assurance at the show, where the Hyundai and Kia brands displayed a raft of new vehicles and high-tech concepts.
In contrast with the self-effacing style of Japan's business executives, the Koreans' declarations appear bold, even ****************y.
For cultural and historical reasons, they relish taking on the Japanese after having emulated them for years.
John Krafcik, vice president for product development at Hyundai Motor America, says the company's culture combines some of the finest Japanese qualities, such as discipline and focus on eliminating waste, with an earthy can-do spirit he traces to Hyundai Motor's origins as a car-repair business.
"It's this wonderful combination of the best of the Japanese layered on top of an extraordinary entrepreneurial spirit.
"There's a 'lift yourself up by your bootstraps' culture that runs through the whole company," said Krafcik, former chief truck chassis engineer at Ford Motor Co.
Full Story: http://www.detnews.com/2005/specialr...A01-182019.htm
SPECIAL REPORT: The next Toyota?
Upstart Hyundai guns for Big Three
Once seen as a joke, S. Korean automaker is now the world's fastest-growing.
By Christine Tierney / The Detroit News
SEOUL, South Korea -- Toyota Motor Corp. may scare Detroit's automakers, but there's one rival out there that worries Toyota.
It's South Korea's Hyundai Motor Co. Already the fastest-growing major automaker, Hyundai says it wants to supplant Toyota as the industry's vehicle quality leader in three years.
Such a goal sounds gutsy, coming from a carmaker that was a running gag on late-night TV not so long ago. But U.S. and Japanese auto executives take Hyundai very seriously now.
"We're always looking in our rear-view mirror, and they're one that's coming up quickly," said Dennis Cuneo, senior vice president of Toyota Motor North America Inc.
In just a few years, Hyundai has emerged as the industry pace-setter, after achieving huge strides in sales and quality -- and in about half the time it took Japan's leading carmakers.
The family-run automaker, which also controls Kia Motors, has leapt from 16th in the global sales rankings in 1998 to seventh last year, just behind DaimlerChrysler AG.
In the United States, the Hyundai Kia Automotive Group is clawing sales from the Big Three after winning customers with stylish vehicles, low prices and quality assurances backed by a 10-year powertrain warranty.
Hyundai owner Mike Ruggero, a Detroit restaurant supervisor, was first attracted to the brand by its long warranty but found the design and prices hard to beat. "The cars are very stylish and look like they should be a lot more expensive than they are," he said.
Ruggero bought a Santa Fe sport utility vehicle and later traded it in for a midsize Sonata sedan. So far, his family has owned four Hyundais.
"They (Hyundai) are very aggressive in the marketplace in terms of their investment and pricing," said Paul Ballew, General Motors Corp.'s executive director of global market and industry analysis.
Benefiting from lower production costs, Hyundai and Kia are hammering rivals in the "cheap and cheerful" small-car segments in North America and Europe.
The Seoul-based automaker also is expanding rapidly in the world's two most populous countries -- China and India.
Now, Hyundai is setting its sights higher, aiming to compete head-on with Japan's best carmakers and even planning some day to export luxury cars.
"We're tremendously confident about our future," Kim Jae Il, Hyundai senior executive vice president, said at the Seoul motor show last month.
Hyundai managers exuded self-assurance at the show, where the Hyundai and Kia brands displayed a raft of new vehicles and high-tech concepts.
In contrast with the self-effacing style of Japan's business executives, the Koreans' declarations appear bold, even ****************y.
For cultural and historical reasons, they relish taking on the Japanese after having emulated them for years.
John Krafcik, vice president for product development at Hyundai Motor America, says the company's culture combines some of the finest Japanese qualities, such as discipline and focus on eliminating waste, with an earthy can-do spirit he traces to Hyundai Motor's origins as a car-repair business.
"It's this wonderful combination of the best of the Japanese layered on top of an extraordinary entrepreneurial spirit.
"There's a 'lift yourself up by your bootstraps' culture that runs through the whole company," said Krafcik, former chief truck chassis engineer at Ford Motor Co.
Full Story: http://www.detnews.com/2005/specialr...A01-182019.htm
05-16-05, 07:52 AM
#2
Although true, I still cannot see myself buying a Hyundai... or even a Luxury brand from Hyundai...
My friend wrecked his car a year or so ago and they gave him a Kia Amanti... it's actually VERY impressive. It's the Korean Benz! Go look it up and you'd be surprised... and the price tag is at the 25K range.
My friend wrecked his car a year or so ago and they gave him a Kia Amanti... it's actually VERY impressive. It's the Korean Benz! Go look it up and you'd be surprised... and the price tag is at the 25K range.
05-16-05, 07:53 AM
#3
Lexus Fanatic
Originally Posted by magneto112
It's South Korea's Hyundai Motor Co. Already the fastest-growing major automaker, Hyundai says it wants to supplant Toyota as the industry's vehicle quality leader in three years.
"[/url]
"[/url]
05-16-05, 08:14 AM
#4
Guest
Posts: n/a
Originally Posted by mmarshall
This, IMO, is by no means out of the question. I've posted on the quality improvements of today's Korean vehicles numerous times, so I won't re-hash all the details. Korean vehicles still trail Toyota / Lexus and Honda / Acura a little in the efficiency, durability and refinement of their engines, but their fit-and-finish and overall quality is now as good as the best Japan can produce, and substantially better than the best American and European nameplates.
05-16-05, 08:28 AM
#5
Lexus Fanatic
Originally Posted by 1SICKLEX
Dude, u made me a believer the cars are gettting better and better. And they are WILLING to adapt, with RWD cars coming soon.
05-16-05, 09:59 AM
#6
Originally Posted by xravexboix
Although true, I still cannot see myself buying a Hyundai... or even a Luxury brand from Hyundai...
My friend wrecked his car a year or so ago and they gave him a Kia Amanti... it's actually VERY impressive. It's the Korean Benz! Go look it up and you'd be surprised... and the price tag is at the 25K range.
My friend wrecked his car a year or so ago and they gave him a Kia Amanti... it's actually VERY impressive. It's the Korean Benz! Go look it up and you'd be surprised... and the price tag is at the 25K range.
How come they didn't get Amantis instead? Yes, I'm being sarcastic.
05-16-05, 10:04 AM
#7
Lexus Test Driver
Join Date: Sep 2003
Location: None
Posts: 1,169
Likes: 0
Received 0 Likes
on
0 Posts
Yeah, Hyundai/Kia has made great strides. They still have some catching up to do though.
A similar situation already played itself out in the electronics industry. Just 10 years ago, the Koreans (Samsung and LG) were way behind the Japanese (Sony, Panasonic, Mitsubishi, Toshiba). Now, they've caught up and even surpassed them in many respects. For example, Samsung makes 33% of the world's plasma display/TV panels, LG 31%, and Panasonic is a distant third at 15%. Samsung and LG are also the top producers of LCD flat panels as well.
A similar situation already played itself out in the electronics industry. Just 10 years ago, the Koreans (Samsung and LG) were way behind the Japanese (Sony, Panasonic, Mitsubishi, Toshiba). Now, they've caught up and even surpassed them in many respects. For example, Samsung makes 33% of the world's plasma display/TV panels, LG 31%, and Panasonic is a distant third at 15%. Samsung and LG are also the top producers of LCD flat panels as well.
Thread
Thread Starter
Forum
Replies
Last Post
LexFather
Car Chat
10
03-31-05 09:51 PM