Hyundai, a brand strengthened in crisis

South Korea's HYUNDAI is now the world’s 5th largest car manufacturer. Zoltán Markó, the managing director of Hyundai Holding Hungary Ltd. proudly claims that 2010 was a good year for the brand, selling over 3.6 million vehicles globally.

In Hungary, Hyundai’s market share reached the European average of 2.3% – a figure that was only 0.5% in 2007. He attributes this success to new models designed for the European market, he five-year warranty, an excellent price/value ratio and low costs of maintenance.

Despite the world economic crisis, Hyundai came out with a large number of new models in 2010 and this trend is likely to continue as the brand is more and more attractive for potential buyers all over Europe. “Reliability is a key issue,” Markó says” and Hyundai has caught up with its rivals in this respect, too.

A survey published by one of Germany’s most popular car magazines suggests Hyundai vehicles are the most reliable. No Korean brand has featured this high on the list, before.” Hyundai broke out of the economic crisis to become stronger than ever as the crisis actually raised the value of traditional Hyundai assets. However, nowadays the modern and dynamic design is also indispensable for success.

Currently, the lower middle class i30 is the most successful model but the success of the ix35, which debuted in April 2010, also surpassed expectations by achieving the annual sales target in just three months. However, Hyundai is not one to rest on its laurels and the 2011 plans are as optimistic as ever.

Although, new car sales in Hungary are not likely to boom in 2011, the managing director says the target for Hyundai is to reach a 2.8% domestic market share. As Zoltan Marko puts it, “we have great expectations for the new D-category business vehicle i40.

It makes its debut at the 2011 Geneva Motor Show – along with two sporty and trendy models, the Veloster 2+1-door sports coupe and the Genesis coupe. We plan competitive offers for our corporate clients, as well. The i30 model continues to be popular among them.”