New companies, such as Tesla with its electric cars, or even Google, which tries to build self-driving cars are also threatening the traditional automotive industry.
The trend of low fuel prices is likely to stay and Hyundai could introduce wider range of SUVs or even consider introducing a line of pickup trucks.
Timing and frequency of new model releases The market share of automotive companies is significantly impacted by the timing and frequency of new model releases. Additionally, the driver said the decoupled steering shaft fell into a position that interfered with the ability to apply the brakes.
Historically, the new models have tended to have major upgrades every 4 or 5 years, with only minor modifications in between. The company has also recalled more than half a million vehicles in This situation has encouraged consumers to buy big fuel-inefficient vehicles such as SUVs and pickup trucks.
Hyundai, which relies mainly on the line of sedan cars, is at disadvantage in low fuel situation. Low fuel prices opening new markets for Hyundai Currently, fuel prices are the lowest in a decade.
Both result in lower revenue and operating profits. The key will be its ability to cost effectively implement technology initiatives in order to maximize a competitive advantage.
The probe started when a Kia driver reported losing control of his car after the steering wheel came off. Hyundai has an opportunity to capture the higher market share and increase sales in such economic conditions.
About 16, Sonatas might be involved. Inthe company has already recalled more thanvehicles in the U. The competition is further fueled by the fact that the global automotive production capacity far exceeds the demand.
Ford SWOT analysis The complaint said the vehicle was 2 months old and had been driven 4, miles when the steering mechanism failed. Kia is owned by Hyundai, and the two brands share technology.
Another report says a bolt in the steering system can become loose. Next-generation Hyundai hydrogen fuel cells due in However, due to rising consumer expectations in relation to in-car technology and the competitive nature of the industry, there is an argument to release the upgraded models more frequently.
Product recalls damaging brand reputation Over the last few years, Hyundai has issued vast product recalls.
The vehicles involved in the probe were manufactured during the same month at the Hyundai factory in Alabama and had fewer than miles at the time of the alleged incidents, regulators said. Increased competition Hyundai is faced with an ever increased competition from the traditional automotive companies and the new players.Hyundai Motor Company is an automotive manufacturer from Seoul South Korea.
The company was established in by founder Chung Ju-yung as a construction company. year as well as the business plan we will implement this coming year. Last year we at Hyundai Elevator achieved several milestones, including the continuation of our 10 Annual Report Annual Report 11 Hyundai Elevator Co., Ltd.
and Subsidiary Consolidated Statements of Financial Position (December 31, and ). Sep 01, · Reports of steering problems in Hyundai Sonata prompt NHTSA investigation.
The cars can sustain a separation in the steering shaft assembly that results in a loss of steering capability, a report says. Another report says a bolt in the steering system can become loose. Revised forthe Hyundai Sonata keeps much of what makes it a strong competitor against such big dogs as the Honda Accord and Toyota Camry, while making some notable enhancements.
Watch video · Many of Hyundai's vehicles continue to impress, with styling, fit and finish, and performance on par with Honda and Toyota. The Santa Fe and Tucson SUVs, along with the Sonata sedan, and Elantras. Hyundai Heavy Industries sails at its full speed in to a brilliant future as a global in heavy industries.
Sincethe Annual Report has been combined into the Integrated Report.Download