While many local car dealerships are bracing themselves for the fall out from manufacturers’ bailouts and plant closures, one automotive group remains confident despite the challenges ahead.
Hyundai Automotive has good reason to believe the future will be bright – and green. The largest Korean automaker, Hyundai Motor Company, has planned ahead, having pledged nearly US $6 billion (roughly R63 billion) to the development of environmentally friendly cars this year. Its first mass-produced hybrid is planned for international release in June.
When the going gets tough, the tough make a plan. “Hyundai is a forward-thinking company and will weather this storm” says Hyundai Automotive CEO Alan Ross. In January, Hyundai was one of only 3 manufacturers to achieve a growth in sales in the embattled North American market, and in February, Hyundai was the manufacturer that lost the least amount of market share.
Thanks to quality-built range of value-for-money vehicles, and a global strategy to meet the growing demand for smaller, more economic cars, Hyundai is in far better shape than most of its counterparts.
Offering the best warranty across a range of vehicles, five years or 150 000 km, Hyundai has been further entrenched into the marketplace as the car for the times. Hyundai are also looking to the future by investing in environmentally friendly vehicles, with the development of Hyundai BlueDrive technology.
Hyundai is also ready to conquer the luxury vehicle market. Hyundai recently scooped up the North American car of the year award for 2009 with the Hyundai Genesis.
The Genesis was also recently given the ‘top safety pick’ by the American Institute for Highway Safety. To earn this honour, a vehicle must earn the highest rating in side, frontal offset and rear crash tests. The Genesis exceeded in all three areas and continues to surprise.
Hyundai has build up the right model mix over the last five years to stay highly competitive in the global market. With an infrastructure geared towards producing low-cost vehicles at a high volume, and by relentlessly striving for quality, Hyundai have struck the perfect balance between affordability and reliability.