COMPANY PROFILE -Hyundai Motor Company
Business Sector :Automotive
Operating Geography :Asia, South Korea, Global
About Hyundai Motor Company :Hyundai Motor Company is the 7th largest automotive company in the world. HMC was founded by Chung Ju-Yung in 1967 as a construction company initially. After several rounds of restructuring of business operations HMC has entered the automobile sector through designing and manufacturing of cars and buses. HMC employs 1.1 lakhs of employees all over the world while 58% of them are employed in Korea. HMC operates in India with its well positioned subsidiary – Hyundai Motor India Limited.
Hyundai Motor Company Revenue :￦ 93,649,024 (+1.8%) – December 2016
Competitive Analysis of Hyundai Motor Company
|1. Huge global presence in over 200 countries|
2. High conformance to safety standards and bagging 5+ rating for safety standards
3. Strong Research & Development wing with 7-step process for designing
|1. Weak brand portfolio with only two major brands- Hyundai & Kia
2. Declining profitability by 12% in 2016 over 2015
3. Quality defects leading to huge vehicle recall in last 3-4 years
|1. Improving global economy with expected growth of 3.5% in 2017|
2. Technological advancements in manufacturing process as well as creation of new consumer demands
|1. US economic developments due to new policies formulated by US president
2. Asian economic turbulences reducing market security
3. British economic downslide by 1.5% over last year
4. Growing criticism towards environmental pollution created by vehicles.
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Detailed SWOT Analysis of Hyundai Motor Company
1. Strong Research & Development wing with 7-step process for designing: Hyundai commits to innovation by focussing sincerely on R&D. Hyundai employs a 7-step process for design: Design Planning; Sketching and Rendering; 1/4th scale modelling; digital modelling; virtual reality presentation; 1:1 clay modelling and emotional & colour design. Hyundai Motor Company has ideated following design philosophies to incorporate cutting edge technologies in its design. Fluidic sculpture which aims to break the barrier between art and automobiles to create advanced designs by incorporating energy and dynamism. Human-machine interface which aims to boost emotional satisfaction of the consumers by making the interiors more interactive, ergonomic and simple to use. Imagine is a collaborative design philosophy adopted by Hyundai to integrate design philosophies of designers across countries like Korea, Japan, US, China, Germany and India and transforms designer’s creativity to blossoming designs
2. High conformance to safety standards and bagging 5+ rating for safety standards: Hyundai Motor Company has conformed to improved safety standards to drive road safety. Autonomous Emergency Braking, Vehicle stability management, Tyre pressure monitoring system, Smart high beam assistant, Dynamic bending lights, Blind spot detection, Advanced smart cruise control, Lane keeping assistance, Lane departure warning system, Hill start assistance control, Electronic stability control. Hyundai motor company has also won several awards in conforming to safety standards to the highest level. Some of its models – Santa Fe; Sonata; Tucson & Genesis has been awarded “Top safety Pick+” in 2016. Hyundai has also won 5 Star ratings for- “National Highway Traffic Safety Administration” in U.S. by Sonata and “The European New Car Assessment Programme” in EU by Tucson.
3. Huge global presence in over 200 countries: Hyundai Motor Company has huge global presence in automobile markets in 200 countries with a strong network of more than 6000 dealers worldwide. In January 2017, HMC has a market share of 4.1% in United States registering a sales figure of 46,507 units. HMC has clocked sales of 35000+ vehicles in European region during the same period.
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Hyundai Motor Company SWOT & PESTLE Analysis - SWOT & PESTLE.COM
SWOT & PESTLE.com (2020). Hyundai Motor Company SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/hyundai-motor-company/ [Accessed 14 Jul, 2020].
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