Word: hyundai
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Dates: during 2000-2009
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...some time to come; the perception that they are inferior lingers long beyond the reality that they are not. And foreign competition may increase: companies in Asia, such as China's Chery Automobile and India's Tata Motors, could plant their flags here. Established players like Volkswagen and Hyundai-Kia have plans to build plants in the U.S. by 2012. Which means the sales rate will be exceeded by manufacturing capacity, as it always...
...Most consumers don't know that Hyundai sells cars. Most Americans don't know that Hyundai exists at all and virtually no one knows where the company is based. The brand does not seem to show up in JD Power customer satisfaction or Consumer Reports rankings...
...Hyundai's U.S. car arm is a tiny piece of a Goliath of a company based in South Korea. The firm owns mines, petroleum assets, machinery manufacturing operations, and electronics factories. It also builds commercial tankers that are as long as several football fields. Hyundai Motors has simply out-marketed its competition in the U.S. It builds good cars, at least based on auto reviews. The company's flagship, a four door war-wagon called the Genesis, was named the North American Car of the Year. The beast only gets 17 miles per gallon in city driving...
...genius behind the Hyundai approach to selling cars is that it has caught on to a way to get people into showrooms during the worst recession in decades. Every other auto company of any size has a line of vehicles as diverse as Hyundai's and all of its competitors have more recognized brands. But when Hyundai did a bit of research about car buyers it found that 50% of people thinking about buying a car or truck were resisting the urge because they might lose their jobs...
...Hyundai took what appears to be a big risk. If someone buys one of the company's cars and losses a job, Hyundai will make the payments for three months. For people still in a bind at the end of that period, the firm will take their cars back...