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Hyundai is among the leading and most popular automobile manufacturers of the world. Apart from excellent technology and good quality products, Hyundai is known for its extraordinary manufacturing capabilities and global presence.
The brand has grown very popular in the Asian markets. Asia Pacific region accounts for a very large part of its sales followed by North America. However, the competitive pressures in the automotive industry have also grown with time.
Hyundai has an extensive and strong supply chain and distribution network. Apart from that, the brand is focusing on the development of eco-friendly vehicles to meet the changing demand of the customers.
These uncertainties in various markets are expected to stay for some years. However, Hyundai has planned to become a leading manufacturer of eco-friendly automobiles and is making heavy investments in this area.
Below are some important stats and facts about Hyundai: Won Hee Lee Number of Employees The condition of the global automotive industry has grown much better than it was some years ago during the recession. Since the recession, its sales and profits have recovered faster in US.
In the Chinese market too, the automotive industry has seen stronger growth since the recession. Several trends are shaping the growth of the automotive industry in this decade. The industry is going through a fast transition and its future will be shaped by electrical vehicles and autonomous driving.
In future the focus will have shifted entirely to the customers and electrical driving and autonomous driving will have grown in importance. According to a report published by the Euler Hermes Economic Research, the automotive market is on its course to have crossed the threshold of million units by Even init is expected that the global sales of automotive will have crossed 98 million units.
In China and Russia, the current growth rate is expected to continue and faster recovery is expected in Russia and Brazil. Since the automotive industry is undergoing fast transition, it will be a major challenge before the brands to manage this transition. Automotive brands will need to continuously invest in new technologies and models including all forms of vehicle from low cost to premium and electrical vehicles to remain competitive.
However, the growth of the industry is also being challenged by legal factors. Emission requirements have continuously grown and they are leading to higher production costs for the brands. Simultaneously, the demand for vehicles has also kept growing and is expected to keep growing in the future.
The profitability of automotive brands is expected to grow higher because of the rising demand for premium cars and SUVs. Brand image has become one of the strongest factors affecting sales of automotive brands in the 21st century. Customers can trust only the brands with a good brand image.
Such brands attract higher sales and their customer base is larger. Hyundai has a strong customer friendly image globally that is based on trust and customer service.Nov 22, · VALUE CHAIN AND COMPETITIVE ADVANTAGE of Samsung.
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