07 September 2009

Hyundai Production: 2008

Hyundai has a very protected home market to dominate, but has struggled to establish itself on the world stage. Some success was achieved through cheap and cheerful approach, but that isn't the profitable route and the Chinese will soon be entering that end of the market. Recently Hyundai has been improving quality and image, while still retaining a slight price edge on the comparable opposition. It is working and Hyundai is one of the few companies to be doing well presently. In 2008, Hyundai's market share was 3.8% and over 2.5 million units produced. An impressive gain over recent years. As for Hyundai's manufacturing by market in 2008:

Korea 56% 1,420,000
India 19% 475,000
China 12% 300,000
USA 9.5% 235,000
Rest 3.3% 90,000

So production is very much about Korea but that is reducing steadily. One can only wonder why the Korean car market is so protected. The cars can stand on their own merit but obviously political reasons are behind it. Still, it is unreasonable to expect others to take your products and be so restrictive the other way.

The bottom line: Hyundai is on a roll and will continue its growth for the foreseeable future.

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