Hyundai and Kia Motors are in the fast lane among the major automakers. In the U.S. alone, their combined sales were four times greater than their sales a mere seven years ago. The new Hyundai Sonata is garnering rave reviews among customers and the press. What's more, with Ford and GM pulling away from the minivan segment, the new Kia Sedona (pictured) is looking to secure another piece of the automotive pie. Across the Pond, Hyundai is beating Honda in Europe in sales, all of which has autodome's resident sourpuss, Jerry Flint, terribly concerned...
(More after the jump)
[Source: Forbes]The
Forbes automotive columnist believes the growth of Korean automakers may be setting them for another fall. He points to Daewoo and Samsung, who both entered the automotive industry with similar tactics, only to be bought out by GM and Renault, respectively. The rapid leadership changes like that of Hyundai firing former North American president Robert Cosmai may indicate penalties for unreachable goals. Finally, exchange rate fluctuations are eroding the two companies' major selling point-- low prices.
Flint admits his concerns may be all for nothing, or it may herald things to come. The competition, from the Big Two to the Japanese and the Germans all remain hungry for market share, and have many have luxury brands, pickups, rear-whel-drive platforms, etc. -- all things the Koreans presently lack.
Is Flint overreacting, or is he on to something?
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