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Hyundai Motor Company Business Challenges and Relationships Essay Example

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Hyundai Motor Company Business Challenges and Relationships

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Hyundai Motor Company Business Challenges and Relationships. First, the company’s most expensive car model such as the Santa Fe and Sonata were undervalued when compared against their competitors in those markets. A research in these markets reviled that despite the cars from Hyundai ranking high in terms of quality scores when compared to their competitors, they still had lower resale values. A good example is the Hyundai’s Elantra which had higher quality rankings than the Dodge Neon, Nissan Sentra and Chrysler but when it came to the resale values all these car models ranked well than it. Similarly this was phenomena was also exhibited in the Hyundai Santa Fe. Its quality rankings ranked higher than that of competing models such as the Toyota RAV 4, Toyota Highlander, the Jeep Liberty, the Ford Escape and the Mazda Tribute (Ketelhöhn Escobar and Kubeš, 1995).

After one-year of sale, the retail value of the Hyundai Santa Fe was much lower than all these car models from competitors. To make matters worse the resale value gap between the Hyundai Santa Fe car and its competitors such as the car models from Toyota was larger than the quality gap between the car models. The resale value of a car is usually considered as the market’s perception of the quality, worth and value of that specific model. It does not relate to the actual quality of the car in any way. These low ranking of the models from Hyundai models in the markets of developed nations pose a great challenge to the survival of the company in those markets. It seems that the car models from the company are not welcomed in these new territories.In the past Hyundai Company used to rely heavily on Mitsubishi’s technology in the designing and manufacturing of their cars but this is not the case anymore. The company has now established their own structures and designs which are unique and do not emulate the designs from Mitsubishi in way. Many of the customers in markets of the developed countries still have the perception of Mitsubishi cars ranking better than Hyundai models. Hyundai Motor Company Business Challenges and Relationships.

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