Does Hyundai Pose a Threat to Toyota for Global Export Volumes?
Which import automaker poses the greatest threat to surpassing Toyota's export volume? While Honda, Nissan and Mazda have made significant gains in recent years, South Korea's Hyundai Motor Company shows the most potential for out and out dominance.
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| Watch out Toyota, your export dominance may be coming to an end. Hyundai just celebrated the its 10 millionth exported vehicle, with the subcompact Accent (shown) making up the majority of sales at 2.1 million. (Photo: Hyundai Auto Canada) |
To drive this point home, the Seoul, Korea automaker celebrated the export of its 10 millionth vehicle in a ceremony held at the Ulsan plant's Pre-Delivery Inspection Centre last month.
"What we are really celebrating today is the growth of the Hyundai family which now extends to 10 million satisfied customers around the world: That is what makes us especially proud," commented Hyundai Motor Company Vice Chairman and CEO Kim Dong-Jin to a crowd of employees, domestic journalists, government officials and senior executives.
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| Another shock to Toyota is that Hyundai surpassed them in J. D. Power and Associates 2004 initial quality survey. The Tucson should continue Hyundai's quality lead, while adding significantly to the automaker's sales success. (Photo: Hyundai Auto Canada) |
"Last year, for the very first time Hyundai Motor Company saw its overseas sales break past the one million per annum mark, a feat which is second only to Toyota in terms of volume," added Kim. "Today, Hyundai Motor Company employs, directly and indirectly, some one million people worldwide and conducts business with nearly 2,000 local and overseas suppliers."
Hyundai also shocked the automotive world when J. D. Power and Associates announced the brand had surpassed Toyota in initial quality in its 2004 IQS (see news archive for Apr 30, 2004: Industry Report Part 1: New J.D. Power Initial Quality Survey Puts Hyundai Above Toyota).
Hyundai's surge up the quality charts was initiated by previous Chairman Chung Mong-Koo, with above average ratings having also been cited by Strategic Vision, AutoPacific and other independent auto surveyors and testers.