The global crisis forced consumers to change their options and move towards the small cars segment. Government incentives were also available and they were offered for this particular part of the automotive market. Hyundai foresaw the opportunity and granted consumers with a a strong small vehicles line-up which benefited from attractive pricing and smart marketing.
This is what drove Hyundai’s success on two of the world’s greatest automotive markets, America and China. The brand now has an improved image, being perceived as “quality offering” and thus Hyundai can hope for even better sales in 2010.
However, the company must face the market almost on its own in 2010, as Korean car buyers will no longer by excepted from taxes. The situation isn’t much better in China, as taxes brakes there will be reduced, compared to 2009’s level, as the aforementioned source writes.
Hyundai doesn't seem to consider that a problem as the carmaker has set a sales target of 3.46 million units for the current year. That represents a 11 percent growth over 2009’s figure.
According to Reuters, the company is playing the game in a deontological manner, as it does not bet on stealing Toyota’s recall-scared customers to enhance its market share in the U.S.
"It is undesirable to link our strategy to the Toyota problems," Park Don-wook, a senior vice president in Hyundai's treasury division, was quoted as saying by Reuters.
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