Hyundai Portico Concept Car
Kia Concept Car
Posted on 01/11/2006 5:06:44 AM PST by CarrotAndStick
Toyota Motor Corp, one of the world's most successful automakers, claims to be afraid of a lot of things: complacency, competition, and success itself.
But in the United States, rival Hyundai Motor Co may well be at the top of Toyota's list.
"We're worried about them," Yukitoshi Funo, chairman of Toyota Motor Sales USA, told reporters in Detroit this week.
"Our main competitors here are essentially Honda Motor Co Ltd, Nissan Motor Co Ltd and Hyundai, but Hyundai is the one we are very carefully watching," he said on the sidelines of the North American International Auto Show in Detroit.
South Korea's top automaker, until recently a target of jokes about broken-down parts, has dramatically raised its profile on the world stage with a benchmark study by research firm JD Power showing an improvement in quality to match the best Japanese brands.
Hyundai now sells far more cars than Volkswagen AG, Mazda Motor Corp and Subaru in the US.
It expects sales to rise more than 10 per cent this year to over 500,000 units, in an overall market that it reckons will shrink.
In 2005, Hyundai's sales fell 7.7 per cent to 418,615 units, giving it a market share of 2.5 per cent.
"The quality story is resonating," Bob Cosmai, Chief Executive Officer of Hyundai Motor America, said at the Detroit show.
"We're broadening the depth of our product line, and it's a great value story. When I joined the company at the end of 1990 we sold 90,000 cars, so we're making our presence really known."
Unveiling the remodelled Santa Fe sport utility vehicle at the show, Cosmai said its popular model would be priced "thousands of dollars" below a comparably equipped Toyota Highlander with six airbags, electronic stability control and other advanced safety features.
As Cosmai admits, Hyundai's path to success has been modelled closely on Toyota's strategy of striving for top quality and competitive prices, and appealing to a broad range of customers with wide-ranging cars.
That's what worries Toyota most.
"Honda and Nissan are also formidable rivals, but they have a distinct business approach and profile from us," Toyota's Funo said. "Hyundai, meanwhile, is essentially doing what we're doing."
But Funo added that Toyota would not and could not compete with Hyundai on prices, and would instead focus on building its brand and value.
"Our costs aren't as low as Hyundai's. We don't want to compete on their terms," he said.
His Hyundai counterpart, meanwhile, seemed to be adopting Toyota's characteristic modesty when asked how the South Korean company stacked up.
"I'm not sure anyone's a big threat to Toyota right now," Cosmai said.
"They're a very successful company," he said, adding that Hyundai benchmarked much of its processes and design characteristics around Toyota. "We have a long way to go."
We are not worried about Hyundai: GM
:o)
We are not worried about Hyundai: GM
:o)
Thanks much River19. Have to consider it with the 10/100000 warranty.
Hyundai Portico Concept Car
Kia Concept Car
Hyundai Azera
Hyundai shows just how important good management is. They used to turn out horrible products. In the space of a few years they've gotten to the point where they make some very nice cars that they support with great warrenties. The new 235 HP V6 Sonata is a very nice machine. is it as nice as an Accord? Not quite, but it is a good deal cheaper and has a ten year warrenty. Would that GM and Ford had Hyundai's management.
Did some research on the Sedona. Not good from Consumer Reports--this in itself did not deter me, as CR is often behind the curve, IMO, and 2006 brings a new version of the Sedona from what I understand, plus the great warranty.
But, lots of complaints on Edmunds, and complaints about getting jerked around on the warranty, with Kia/Hyundai taking the position that lots of problems are not covered.
I'm back to looking for a previously owned Odyssey but will continue to look around.
I've always owner Toyotas, but I'd be lying if I didn't admit I ~really~ wanted a Santa Fe.
Had to settle for a pre-owned Rav4. I do love it, but I still want a Santa Fe one day.
Does Hyundai make a minivan? I'm in the market and was leaning toward an Odyssey over a Sienna. Does Hyundai still have a 7/100,000 warranty?
Do you know whether Honda even makes Odyssey with a manual transmission? It seems everything is an automatic nowadays.
My wife and I just bought a Tiburon. For the price and the warranty it is well worth getting. Lots of people have asked us "why Hyundai when you could of got a better sports coupe?" It really came down to the 100,000 mile warranty, we also extended the bumper to bumper to 100k miles. Plus the Tiburon is really nice compared to what it once was.
I don't believe they do. I haven't tracked their transmission faults the last couple of years. I used to have an Acura (Honda) MDX. I got rid of it after two years because the transmission fluid was 'browning' indicating excessive heat.
Just do your research. There are internet forums for just about every vehicle that owners can have discussions.
Good luck!
If Korea could pop out a 280 HP Tiburon (with optional V8) and Hyundai would have something to really look at versus the muscle car craze currently going.
Must be Samsung.... The Koreans have this name for the mega-corporations they have (can't remember the word), which seem pretty akin to the OCP of Robocop fame...
chaebols! That's the word...
As long as my Hyundai doesn't come equipped with a bbq dog cooker I might check out purchasing one.
They like dog over there. Makes you feel warm all over according to a guy I used to know that was over there during his stint in the military.
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