Hyundai Moves Center Stage in Global Market

More and more top automotive executives like to talk about global dominance these days, either ascending to the very pinnacle of worldwide sales volume —currently occupied by General Motors — or taking some much bigger chunk of overall market share than they have now over the next few years.

Carlos Ghosn of Renault-Nissan, Alan Mulally of Ford, and Martin Winterkorn of Volkswagen have been the three most recent notable big talkers in this regard.

But when the microphones are turned off, you can bet that the one competitor they’re all talking about, and perhaps most worried about, isn't Toyota any more — it's Hyundai.

It may be some time before the Japanese behemoth that is Toyota recovers enough from its safety recalls and earthquake damage to threaten the top spot again.

This creates an opening for the Korean juggernaut has been chomping up remarkable new shares of Hyundai vehicle sales in the US and globally for at least the last three years. Its global production has doubled in the last decade, a stunning achievement in such a mature industry.

If they weren't before, everyone is certainly taking Hyundai seriously now.

Thanks to vastly improved manufacturing quality, better contenting and amenities in its products, a focus on the most mileage-conscious parts of the market, and a willingness to innovate and take chances in marketing tactics — such as its pioneering offer of a 100,000-mile warranty, and its Assurance campaign — Hyundai is on the move, and fast.

Even its introduction of the Genesis a couple of years ago as a “luxury” model took chutzpah at the time. But American consumers have proved  willing to consider not only Genesis but also the new Equus in the same breath with Mercedes-Benz and BMW models that are much more expensive.

Hyundai also has benefited from the luck of having the kind of fuel-efficient lineup that Americans wanted just when the March 11th earthquake and tsunami in Japan hobbled its biggest competitors in the small-car segment.

But you know what they say about luck — you make your own. And that’s exactly what Hyundai keeps doing.