Honda Boss Admits "Hyundai Is Awesome"

Japanese carmakers are undoubtedly playing a key role in the global automotive industry and, even if they are competing against powerful European or continuously-rising Chinese brands, they think Hyundai is the biggest threat. Not only because Hyundai is selling very well but because consumers are starting to see the cars sold under the South Korean badge as providing excellent quality and affordability.

Honda Motor Co. CEO Takanobu Ito had a very unique way to talk about the South Korean competitor.

"Hyundai is awesome," he was quoted as saying by The Associated Press. "They are undoubtedly a threat because their products are cheap, and the quality is improving."

Ito also revealed that General Motors and Ford are still the biggest threats in the United States but emphasized that Hyundai might soon grow in this severely affected side of the market.

Nissan's senior vice-president Shiro Nakamura shares the same point of view and agrees Hyundai is growing impressively and the company is on the verge of becoming one of the most important competitors for Japanese manufacturers.

"Hyundai is the biggest threat for the Japanese automakers," Nakamura told The AP. "They have the technology, but they seem to have cheaper labour. We have to offer the equivalents of sushi, tempura and kaiseki to compete against Korean barbecue."

Hyundai is one of the companies that it is still successful in the United States, in spite of the closure of the popular Car Allowance Rebate System (CARS). It improved its sales last month by 27 percent versus September 2008. Hyundai, which also owns Kia Motors Corp., is rated as the fifth-largest group in the auto world.