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Old 22nd May 2011, 14:33   #1
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Default Hyundai's amazing growth

Just read this report in FT on Hyundai growing market position and was amazed. Just did a bit more internet search and found that:
  • They are the worlds fifth largest carmakers (incl. kia) following VW, Toyota, GM & Renault/Nissan, in fact their gap with Renault/Nissan is not that wide.
  • Hyundai sells more cars than Ford.
  • It does better than all the Japanese carmakers in Europe.
  • Their US market share which was a measly 2.8% in 2007 is now 7.7%
  • Unlike the Japs who rely on US sales heavily, Hyundai has a more distributed global profile
  • Other majors like PSA, Honda, Fiat etc... are nowhere close
  • They sell 5 times more than their former technology provider Mitsubishi
  • They are India's largest car exporters
Between 2005-10 they have exported approx. 1.1 million cars from India with exports almost doubling between 07-08. It shows how this company does not see India simply as a assemble and sell operation like plenty of other car makers.

Another example of how they adapted to market requirements was how they started developing diesel engines with Detroit diesel in 2000 and today boasts a diesel option for almost their every model, from the 3 cyl U1.1 litre developing 74 hp to the V6 S3.0 developing 237 hp (I've left out the commercial diesels).

I would like to reiterate Im not a die hard Hyundai fan or own their cars, its not singing laurels to a car model but just how this company has grown.
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Old 22nd May 2011, 14:41   #2
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Default Re: Hyundai's amazing growth

Quote:
Originally Posted by shortbread View Post
Just read this report in FT on Hyundai growing market position and was amazed. Just did a bit more internet search and found that:
  • They are the worlds fifth largest carmakers (incl. kia) following VW, Toyota, GM & Renault/Nissan, in fact their gap with Renault/Nissan is not that wide.
  • Hyundai sells more cars than Ford.
  • It does better than all the Japanese carmakers in Europe.
  • Their US market share which was a measly 2.8% in 2007 is now 7.7%
  • Unlike the Japs who rely on US sales heavily, Hyundai has a more distributed global profile
  • Other majors like PSA, Honda, Fiat etc... are nowhere close
  • They sell 5 times more than their former technology provider Mitsubishi
  • They are India's largest car exporters
Between 2005-10 they have exported approx. 1.1 million cars from India with exports almost doubling between 07-08. It shows how this company does not see India simply as a assemble and sell operation like plenty of other car makers.

Another example of how they adapted to market requirements was how they started developing diesel engines with Detroit diesel in 2000 and today boasts a diesel option for almost their every model, from the 3 cyl U1.1 litre developing 74 hp to the V6 S3.0 developing 237 hp (I've left out the commercial diesels).

I would like to reiterate Im not a die hard Hyundai fan or own their cars, its not singing laurels to a car model but just how this company has grown.
Its amazing the way Hyundai has battled perceptions about being a "Korean made car" to crack open the US market , I think the Tatas in India can take a leaf out of their book for the domestic Indian market.
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Old 22nd May 2011, 15:47   #3
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Default Re: Hyundai's amazing growth

What Hyundai has done is really commendable. They have launched cars in India almost at the same time they launch them elsewhere in the world.

Combined with reasonable price and decent quality and superb reliability, they have succeeded big time.
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Old 22nd May 2011, 19:18   #4
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Default Re: Hyundai's amazing growth

With their current line up of fabulous looking cars, with amazing features and advanced technology, I only see their sales going North from here. Toyota, when questioned if they feared losing their No.1 position to GM, they said they fear the Koreans the most! They are also the largest selling Asian brand in Europe too I suppose Great going Hyundai! Keep at it
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Old 22nd May 2011, 19:26   #5
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Default Re: Hyundai's amazing growth

Hyundai has spent millions of money in constantly updating and redesigning their products, developing new platforms and having cars that caters to each and ever customer.
Heck, unlike Honda, they even have
  • three RWD cars,
  • a RWD and FWD sports coupe (genesis and veloster respectively),
  • diesel engines,
smashing fluidic sculpture designs and a focused growth trajectory. Making india as a major hub for i10 and i20 has helped this tremendously. Now they need to focus on making their FWD cars fun to drive.
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Old 22nd May 2011, 20:15   #6
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Default Re: Hyundai's amazing growth

The commendable part is from being a brand, which was only famous because they had the VFM Santro they have become a company which has products folks aspire for!
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Old 22nd May 2011, 20:16   #7
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Default Re: Hyundai's amazing growth

@ Sidindica

Agree, but I think Hyundai's taken the game away from Honda some time ago. Adding to your list:
  • The Hyundai Equus is more expensive than any car in the Honda stable including their Acura badge
  • Two V8 models in their line up the Genesis and the Equus, Honda has never made a V8 road car. They chickened out of the new V10 NSX project.
  • Hyundai have already revealed the 2012 Genesis R with a 429bhp direct injection V8, a much more potent car than any in Honda's line up.
Its not just the higher end of the spectrum, but when it comes to smaller cars as well especially in India. The Santro. i10, i20....and not to forget they are also developing diesel options for these models in the mean time. Its been half a decade since Honda has announced their small car project and its still some time away before it hits the showrooms. Hyundai havent just stopped there, already in the pripeline is a sub Santro car under development. They have definitely taken the race away from the likes of Honda and Mitsubishi.
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Old 22nd May 2011, 20:37   #8
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Default Re: Hyundai's amazing growth

I were to pick up one brand that is responsible for revolutionizing the Indian car scene, I would say its Hyundai.

Maruti might be the first company that really put India on 4 wheels, not counting HM and Fiat. But Maruti acheived all that success with virtually no competition.

When Hyundai came into India, it had the tough challenge of competing against a strong player like Maruti, which by that time had already established an amazing reputation of reliability and dependability and also built a strong nationwide service network.

But Hyundai took Maruti head on by bringing competitive and technically advanced products at affordable prices. Hyundai also developed their service network faster than any other brand and today their service network is behind only Maruti and Tata (in terms of coverage only, not the service experience).

I would say that what Maruti achieved in 25 years, Hyundai did the same in half the time in spite of entering late and facing tough competition from established players.

Also, Hyundai forced Maruti to bring in better products to the Indian market because of fear of loosing customers to Hyundai. Examples: WagonR vs Santro, Baleno vs Accent, Swift vs Getz. If it wasn't for the competition faced from Hyundai, Maruti would still be selling only 25 year old models in India.

Some of us take great pride in calling Korean products as crap. It is ok if customers from the western world say so because they have superior technology, but IMHO Korean products are much more reliable and technically advanced than any of the indigenously developed products in India.

There was a time when people wouldn't go anywhere near a Samsung phone. All it took was one product to change the brand image. Today Samsung Galaxy S enjoys the same snob value as an iphone.

The day is not far when Hyundai cars will enjoy the same snob value as a Skoda, VW, Toyota or Honda.

Rohan
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Old 22nd May 2011, 20:41   #9
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Default Re: Hyundai's amazing growth

Because of
Quote:
They are India's largest car exporters
. They have not been attacked below the belt, by India's biggest car maker. Why does Fiat come to mind here, actually even Daewoo, but they are another story.

Nonetheless, what Hyundai has achieved is commendable, I own a Santro, which has done 100k+ and I still pick this car, when I have a City drive.
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Old 22nd May 2011, 20:52   #10
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Default Re: Hyundai's amazing growth

Clearly, Hyundai have arrived and how! True, over the years Hyundai cars have slowly but steadily become aspirational items globally. They should consider taking it up a notch and launch an in-house luxury brand, ala Lexus and Infiniti.

In the Indian context, they have taken the bottom-up route to success in our market, hence their luxury cars have not exactly set the sales charts on fire. This is where I think Hyundai can differentiate a Santro from say, a Sante Fe, by badging and marketing their premium vehicles separately.
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Old 22nd May 2011, 21:45   #11
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Default Re: Hyundai's amazing growth

Wow ! Thats indeed a great achievement from Hyundai. Hyundai brought great quality & user friendly features to customers which is not much available in other brands sold in india (atleast in same segment cars). Hats off

Feeling Proud to own a Hyundai Car !

-Ravi

Last edited by ravib : 22nd May 2011 at 21:53.
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Old 22nd May 2011, 22:00   #12
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Default Re: Hyundai's amazing growth

Note from Mod : You have way too many spelling & grammatical errors in your posts. This negatively affects the forum experience for other members / guests.

You are hereby instructed to proof-read your posts prior to hitting the "submit" button. Thanks

Last edited by GTO : 23rd May 2011 at 20:58.
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Old 22nd May 2011, 22:27   #13
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Default Re: Hyundai's amazing growth

Leaving snob value aside, Hyundai makes cars which are great all rounders. They always make sure there cars offers something else which the competition doesn't. Look at the i10, i20, the new Verna and the upcoming i45. They generally set the benchmarks in terms of features offered in any segment and the others follow.

True, There cars don't even come close in handling and ride quality when compared to some of the other manufacturers. But, for a person who is in the market to buy a decent VFM car, Hyundai almost always is on top of his/her list.

They make some stunning diesel engines this side of 10 lakh (i20, Verna, Getz), Amazing interiors and these days, Good exteriors too I see them only going north from here. And yeah, It makes me feel proud to own a Hyundai !
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Old 22nd May 2011, 22:58   #14
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Default Re: Hyundai's amazing growth

Hyundai has done fantastic job and this is great achievement for them. Cars like Santro, i10, i20 have performed exceptionally well. And with the new fluidic Verna their growth will be more than expected. Hyundai Verna has nearly 5000 bookings after its launch just few days back. I guess this will increase their sales volumes more than they expected in coming months.

Quoting from a news website
"The new Fluidic Verna has received an overwhelming response just days after its official launch. Hyundai has already received 5000 bookings from customers across India. The Hyundai management is impressed by the way things are going thanks to the features the car offers for the price. “It is a matter of great pride for us to have received such an encouraging response for our recently launched sedan – the new Fluidic Verna. The Verna has many first-in-segment features and our customers have received the new Verna with unparalleled enthusiasm,” said, H. W. Park, MD & CEO, HMIL."
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Old 23rd May 2011, 00:24   #15
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Default Re: Hyundai's amazing growth

I think in India if there is one brand that has given direct competition to the Maruti Suzuki(and also broke their siesta) it is only and only HYUNDAI. Proud to be a Hyundain
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