Korea has a long way to go but they are headed in the right direction.
Last year Hyundai's global sales climbed 10.8% to 2.5 million units. In the US, sales were up 8.7%.
Hyundai is studying the competition...in the neighboring country...Japan.
Their teacher? Toyota. Toyota dodged high costs at home by manufacturing overseas. Hyundai plans to produce a third of its units overseas this year...including 270,000 Sonata Sedans and Santa Fe SUVs due to roll out of an Alabama factory that opened last May. Don't you love a company when they give you a job, too?
Hyundai is also trying to buff up its image by improving its lineup, it's quality and reducing its cost. There is a new luxury sedan, the Azera that is coming out soon in the US.
It has negotiated contracts with parts suppliers and managers with some success but its powerful auto worker's union calls any requests for a wage freeze and work-rule flexibility - ridiculous. (I hate unions!)
Watch out, America. If the Japanese don't get us, the Koreans will....and don't forget..the Chinese are coming, too.
Comment Preview