KoreanTimes
Kim Hyun-chul
(Staff reporter)
2008/5/16
Summary
Hyundai Motors, the biggest automaker in Korea, expected the sales of produce overseas will be over that of the domestic one. It said its sales and export and net profit are increasing.
An analyst of it stated the risk of exchange rate let it manage difficultly but if the exchange rate were steady, its profit would be bigger and it's another reason of the expansion of foreign country. And the rate of foreign proportion was bigger until 2003(46.2%) and decrease to 45.6% in 2006. However, it established the second plants in China and India and is under construction in Czech Republic. Moreover, the maker is planning to apply diverse culturally sensitive marketing strategies to secure future competitiveness in the foreign market.
New products will have an important role in exports growth and in the forefront is Genesis, Hyundai Motor's recent model. Another new production, i30, is putting up a favorable reputation all over the world.
Opinion
Hyundai Motor have a good strategy because the Korean market alreadly get saturated so it should pioneer the others market, world market. For these, it tried to understand other countries' culture and then it found new factories or planed to build. Through its trial, it can reduce the transportation cost comparing with the production in Korea. It will bring Hyundai recognition and competitiveness.
And it would like to develop a new product like i30 or Genises that must have new functions, comfort, and good design. If they attract foreign people and the people acknowledge them, its sales figure in the county will be bigger than before.
So, its desirable strategy will be continued. Through these, Hyundai Motors will get more market share in the world vehicle market.
#20300576 - Entry 10
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