10 April 2009
South Korea – Cars Rated
The Hyundai/Kia Company dominates but there are a few other brands manufacturing there.
2007 Production: 3.7 million cars and 4.1 m vehicles in total.
General perception: Cheap prices, value for money but not quite up to the standard of Japanese and European cars. Dull designs and poor drive appeal.
I say: The prices are rising, as is the quality. They still are good value. Saying you drive a Korean car still has a negative perception that value only is your focus when buying. They still are pretty dull to me.
Prognosis: Getting out of the bottom end of the market place will improve profits. It will also avoid taking on the Chinese who will soon be filling that area. The quality is coming along nicely but how quickly people buy into that will be important. They need more exciting designs too. Korean companies are aggressive and if they establish a good reputation for quality and style, while maintaining value, they will come out of the down turn with strength.