Can Hyundai do it? Options

[elantragt]

Hyundai's goal is to become a top 5 world automaker in the next few years. Their plan is to take Hyundai upscale and possibly even add a luxury division ala Lexus. They will give their KIA brand a youthful sportier image. So... do you think Hyundai could/will become the next Toyota, Honda or Chrysler?

[terrytut]

given enough time, I think that they are a strong contender, and could do it.

[Elantrick]

If they make the commitment to do this, and maintain their focus, YES.
If they suddenly decide that they are loosing too much money and cheapen up the car or raise the price a bunch, then maybe not.

[cobas]

Well, we already have a top 5 automakers, so it also depends on who the competition is. Who are the current top 5 anyway? GMC, Ford, Chrysler, Toyota and Honda? For Hyundai to get into the top 5, one of the current ones has to screw up. Also, Ford, GMC and Chrysler have big truck/SUV markets in the US.

[Elantrick]

The top 5 don't have to screw up, they just have to slow down the rate that they improve their products.

[bikerPA]

You know what? Forget being cautious. Hyundai got burned BAD in the mid- and late-1980s by attempting to compete on price alone. They spent the early to mid 90s licking their wounds. For the past six or seven years, they've been concentrating on putting out reasonably good product at an appealing price that would allow them to establish a decently loyal customer base (as is evidenced by their #4 ranking in customer retention by J.D. Power). Hyundai has had FIFTEEN YEARS to ponder how to go about winning back the American public - I've gotta believe that they've thoroughly studied what Japan did in the 80s, learned from the mistakes of folks like Mitsubishi, and have absolutely nailed the quality/value/reputation equation. If nothing else, look at the buzz they've created! That in itself would have been totally unthinkable eight or ten years ago. They've come a long way since then, and I suspect they'll go at least as far in the next few years.

okay, I'll quit with the rabid Hyundai fanboy rant now. You get my point.

[Neurowave]

Well top 5 in what? Production-wise we're bigger then Honda.

[roydjt]

On a worldwide scale, I absolutely think Hyundai can be there in a few years. Their small models sell very well overseas, and I would bet that they are huge in China. Don't forget that China is the fastest growing auto market in the world and the market there is inconcieveably immense.

Stateside, however, people are more reluctant to change. Honda and Toyota will be the go-to import brand for years to come due to their reputation. If Hyundai raises their prices compared to silimar models from those two, I think lots of people will choose the brand they know and trust. And Ford and Chrysler are so strong here as well, especially in the midwest/bible belt.

I think it will take much longer to win the US market, but worldwide, I can definitely see Hyundai cracking the top 5 in the next 3-5 years.

-Roy

[sizzski]

You know what?  Forget being cautious.  Hyundai got burned BAD in the mid- and late-1980s by attempting to compete on price alone.  They spent the early to mid 90s licking their wounds.  For the past six or seven years, they've been concentrating on putting out reasonably good product at an appealing price that would allow them to establish a decently loyal customer base (as is evidenced by their #4 ranking in customer retention by J.D. Power).  Hyundai has had FIFTEEN YEARS to ponder how to go about winning back the American public - I've gotta believe that they've thoroughly studied what Japan did in the 80s, learned from the mistakes of folks like Mitsubishi, and have absolutely nailed the quality/value/reputation equation.  If nothing else, look at the buzz they've created!  That in itself would have been totally unthinkable eight or ten years ago.  They've come a long way since then, and I suspect they'll go at least as far in the next few years. 

okay, I'll quit with the rabid Hyundai fanboy rant now.  You get my point. 

I agree with biker. They are not to many car makers out there that put out a quality car at a good price.