Word: hyundai
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Dates: during 1980-1989
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...crowded U.S. market is increasingly unforgiving to any automaker, foreign or domestic, that loses its way. After a fast start, sales of the South Korean-made Hyundai Excel have plunged. While Nissan has performed well in 1989 on the strength of higher-priced models like the Maxima, it suffered from poor sales between 1985 and 1988 because of weak marketing and a stodgy product line. Says Laurel Cutler, Chrysler's vice president of consumer affairs: "There's no market for products that everybody likes just a little. Anything that's boring is vulnerable. I would say that the midsize market...
...last week Global Motors, importer of the Yugoslav-made car, filed for Chapter 11 bankruptcy protection. The car's initial allure was its low base price, which started at $3,990 in 1985 and is now $4,349. But the car ran into competition from South Korea's Hyundai Excel, which began selling...
...Francisco, they filled the convention hall with a sea of waving flags. That did not quite do the trick. So this year they went one step further. They started bashing foreigners -- not Communists, to be sure, but second best -- ruthlessly efficient Asians. Starting with Richard Gephardt's "$48,000 Hyundai" ads and finishing with a Dukakis TV spot that featured a rising Japanese flag, the Democrats' appeal to economic nationalism has not been subtle. Attacking allies is not nearly as satisfying as attacking enemies (say, the Evil Empire), but it is a start...
...rival, Richard Gephardt, was auditioned. The Missouri Congressman, winner of the Iowa caucuses, has the most appeal to the blue-collar vote. Gephardt has corrected his early campaign deficiencies, developing a strong populist message, a compelling delivery, and eyebrows. But unless he is willing to put his $48,000 Hyundai on cinder blocks, it may be hard for him to reconcile his protectionist philosophy with Dukakis' belief in freer trade...
...more serious threat to Hyundai came on May 30, when 20,000 workers struck the company's profitable auto-manufacturing unit, shutting down all 15 of its plants. The strikers are asking for a 48% pay hike. The government is pressuring Hyundai and other companies to resolve their labor problems quickly in hopes that the situation will calm down by the time the Seoul Olympics begin in September...