SWOT Analysis of Hyundai – Hyundai SWOT Analysis focuses on (S) Strengths, (W) Weakness, (O) Opportunities, and (T) Threats. Internal Factors in the SWOT Analysis are Strengths and Weaknesses and External Factors in the SWOT Analysis are Opportunities and Threats. SWOT Analysis is a proven management tool that helps organizations such as Hyundai Motors to assess the market of cars and its success against rival companies. Hyundai Motors has been one of the leading car manufacturer.
Hyundai Motor Corporation is an car manufacturer from Seoul (South Korea). Hyundai was founded in 1967 by the Chung Ju-yung. Hyundai has undergone restructuring and now part of a number of companies. Hyundai designs , sell and manufacture light-duty vehicles, buses and commercial vehicles.. It is the 5th largest automaker in the world and sold 4,963 million units across 6,000 dealerships in 186 countries. Hyundai has a stake of 32.% in Kia Motors.
Hyundai motors was rated by Interbrand as a world 35th Car Manufacturer. Cars of Hyundai motors are awarded multiple times for safety standards.
Strengths in the SWOT Analysis of Hyundai – Hyundai SWOT analysis
- Hyundai has created a good brand image like Maruti Udyog Limited and it is assumed as a Indian Brand. Hyundai was awarded many Awards for its cars.
- Hyundai is the biggest car exporter on the Asian market with a 10 % increase compared to the previous year.
- Domestic revenues are growing at an annual rate of 19.1 per cent.
- Hyundai is recognized for its high-quality products with better performance and has been continuously ahead in the Maruti Udyog race, limited in many parameters.
- The product length includes around 12 cars, from the small car to SUV segment.
- Among the car players, only Hyundai is known for its Corporate Social Responsibility activities.
- Hyundai cars have never been able to gain recognition in each category from various automobile rating companies.
- Hyundai has the largest number of showrooms and service stations next to Maruti in India.
Weaknesses in the SWOT Analysis of Hyundai – Hyundai SWOT analysis
- Hyundai took a long time to gain market share, as it was not the first mover in India.
- In terms of the most successful and trustworthy brand; Maruti is stronger in the Indian subcontinent. · Hyundai spare parts are comparatively priced higher and PAN India spare parts are not available.
- In the SUV segment, Tucson and Santa Fe models did not have a major impact.
- Higher product costs, such as steel, aluminum, and ancillary components, have affected margins. · Because HMIL relies on domestic and external revenues, there are higher chances of exchange rate volatility.
- As Hyundai focuses mainly on quality, most of its products are in the premium category in each segment. Hyundai Motor is trying to create an impact in small car segments by manufacturing good performance cars at low prices.
- Hyundai has no model battle to perform in corporate orders such as Tata Indica V2, Tata Indigo, Tata Sumo, Ford Fiesta, Chevy Tavera, etc.
Opportunities in the SWOT Analysis of Hyundai – Hyundai SWOT analysis
- SIAM has stated that there is a steady increase in domestic and Indian car sales. The automobile sector has a big share of India’s GDP.
- The export market growth rate is 22.30 percent compared to the previous fiscal year.
- India ‘s saving trend of consumption is an additional benefit for every type of industry in India. This was one of the key reasons for the Indian economy to thrive in the middle of a global recession.
- There is more scope for HMIL to enter the small car segment than its dedicated R&D plant in Hyderabad, India.
- Hyundai is one of the few companies with the biggest R&D network in the world headquartered in Korea, Europe, India, the US, Japan. · Hyundai has a very good chance to penetrate commercial vehicles and recreational vehicles because they are still doing well outside India. Currently, HMIL only focuses on the Passenger Car market.
- Hyundai has manufactured Electric vehicles for capturing the electric vehicle market.
Threats in the SWOT Analysis of Hyundai – Hyundai SWOT analysis
- FDI Investment in other automobile companies is not good signs of existing giants such as MUL and Hyundai.
- Nearly all big automotive manufacturers have begun to enter India to set up their market and production plant in India.
- Hyundai was faced with a slight decline in market share due to tough competition from Ford Figo and Volkswagen Polo.
- Many manufacturers have begun to focus on the small car segment as an alternative to Nano. These will slow down Eon’s expected sales.
Hyundai Motors has created
- Hyundai motors have a threat from a change in government policies.
- Hyundai Motors has a Threat from competitors like Tata Motors, Mahindra, and Maruti.
If you like This Article Please Like our Facebook Page PROJECTS4MBA
Cite This Work
Referencing Style to cite this article: