Wherever you look, Hyundai is racking up big gains in sales, quality and in many cases market share. While top management of the Korean chaebol that owns the Hyundai brand has predicted slower sales growth for Hyundai this year than last year, the reasons mostly have to do with limits on production capacity worldwide and other self-imposed restraints, such as a desire to further boost quality, than with any kind of slacking in demand for Hyundai vehicles.
in the U.S. market, Hyundai continues to be bolstered by rising sales and market share; the opportunity to continue to steal sales from Toyota and Honda as those brands try to re-attain earlier levels of inventory; new products like the 2012 Elantra, the North American Car of the Year; and the gung-ho attitude of Hyundai of America CEO John Krafcik. "We're an ambitious company," Krafcik told brandchannel. "We're hungry, but we try to stay humble as well."
That's difficult to do when Hyundai can sell practically every vehicle it makes for the American market, is stealing market share from every major competitor, and even seems to be succeeding in Krafcik's bold move to stretch the Hyundai brand upscale with vehicles such as up-to-$47,000 Genesis and the $59,000 Equus, even while the $15,000 Elantra continues to anchor its product lineup.
In its biggest marketing push yet, Hyundai is getting ready for a bigger-than-ever Super Bowl this year, with the first of three spots airing just before kick-off on February 5th. The automaker is stepping carefully as it builds pre-game buzz, following the FTC's admonition to be mindful of disclosures following a pre-Super Bowl social campaign with bloggers.
It's possible Hyundai will come back to the pack a bit as Toyota and Honda cement their recovery this year, as Volkswagen continues to compete more stiffly in the U.S. market, and as the American Big Three try to hold on to their recent gains in the small-car market.
Indeed, Hyundai remains and, if possible, is growing even more ascendant outside its home turf around the world. Sales in China are keeping Hyundai among the most robust foreign-owned brands in the world's largest auto market. Hyundai is opening a plant and goosing sales in Brazil. And even in Europe, while Europe-based automakers struggle in the bottom half of the market, Hyundai's sales rose by 12 percent last year while those of Volkswagen, the Germany-based arch-rival to Hyundai in mainstream product segments, rose by just 9 percent.
"Hyundai is one of VW's most serious challengers" in Europe, Stefan Bratzel, a leading German academic expert on the European auto industry, told Automotive News Europe. "The mix of good value, quality and design is a solid basis, and they've been getting more innovative every year."
Source: brandchannel.com
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