SWOT Analysis of Hyundai Motors Company
This is the detailed SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of Hyundai Motors Company for the year 2014.
Background of Hyundai Motors
• The company is known with the name of Hyundai Motors Company.
• It has been operating in automotive industry.
• It has been serving automotive industry since Dec, 1967.
• It was founded by Chung Ju-yung
• Headquartered in Seoul, South Korea.
• It has been serving Worldwide.
• It is offering following products; Automobiles, Cars, commercial and engines.
• In 2013, the company revenue was $ 75.03 billion.
• In 2013, the company profit was $ 7.6 billion.
• It has employee base of approx. 58K (2013).
• The direct competitors of Hyundai Motors are Bayerische Motoren Werke AG, Chrysler Group LLC, Daimler AG, Ford Motor Company, General Motors Company, Honda Motor Company, Nissan Motor, Tata Motors, Ltd., Toyota Motor Corporation, Volkswagen AG and many other automotive companies.
• Fastest growing brand in automotive industry.
• Strong research & development; it has established eight R & D center in different part of the world.
• It has world largest automobile plant named “The Ulsan Plant” located in Korea.
• Hyundai vehicles are sold in 193 countries via 6000 dealers.
• Ranked 8th in automotive brand ranking of 2013.
• Fastest growing company in automotive industry..
• Growth in Europe region sales.
• Strong revenues and profits in 2013.
• Hyundai’s brand value reaches $9 billion, ranking No. 43 in Interbrand’s 2013 Best 100 Global Brands
• Product recalls
• Lack of attractive car designs.
• Weak presence in Asia region.
• Low sales in Japan.
• Manufacture low price and fuel efficient cars for third world countries
• Enter into untapped markets.
• The fuel prices are increasing therefore; it’s the right time for Hyundai to start focusing on manufacturing Hybrid cars.
• Provide training to dealers to improve customer services.
• Conflict between South and North Korea could impact the largest production facility of Hyundai Motors.
• Strong competition in automobile industry.
• Unrest in Africa region.
• Increase in price of fuel may decrease the car demand.
• Improvement in public transport infrastructure.