Hyundai Profit in Downturn

The Hyundai-Kia Automotive group have been one to of the major winners in a year of largely dire global recession.

Hyundai-Kia are the world’s fourth largest automotive manufacturer and have racked up fast growth last year despite the economic turmoil.

One particular area they have expanded is in the emerging Indian market, which we have discussed on a number of occasions. India being the world’s second most populous country has seen a large portion of the country become mobile and Hyundai have benefitted with an 18.1 per cent rise from 2008.

One of the reasons for their success is the state-of-the-art manufacturing facility in Chennai where they churn out around half a million vehicles a year. However another reason for the firm’s success in India is attributable to the firm's strategy of being woven into the fabric culture of the country. In other words, it cranks out models best serving local tastes.

"Hyundai Motor has put the local relevance as its top priority ever since we made inroads into the Indian markets in order to win the hearts and minds of end customers,'' said Director Arvind Saxena at Sales & Marketing Division of Hyundai Motor India.

"In my view, such an approach has worked. We will continue to stick to the strategy so as to serve the Indian customers best. Toward that end, we will put forth efforts in various areas including research and development,'' he said press.

As an example of customisation, Hyundai equipped its products with stronger horns and durable air conditioners as some Indians tend to compete to honk horns to each other in the midst of sultry weather.

Plus, Hyundai models typically have high roofs and crucial engine control units are designed to be resistant to water because cars have the possibility of being waterlogged in flood-prone areas of the country.

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E. Dooley

26/01/2010