Japanese automakers fear, admire South Korea’s Hyundai

By SARAH A. WEBSTER
FREE PRESS AUTOMOTIVE EDITOR

If you didn't notice by its 27% sales gain last month -- when the industry toppled 23% -- Hyundai is "awesome." So says Takanobu Ito, the CEO of Hyundai ’s rival Honda, according to Autocar.

Honda – and Nissan – both believe that South Korea ’s Hyundai is a threat to Japanese automakers’ global success.

(And lots of other automakers, in my book).

“ Hyundai is awesome,” Takanobu said. “They are undoubtedly a threat because their products are cheap, and the quality is improving.”

Of course, Hyundai captures less than 5% of the United States sales market today, which makes big gains easier here.

But that market share has to come from somewhere, and nobody wants to give up even a point.

A Hyundai official recently told me that the company is capturing U.S. market share not from one or two particular automakers but from “everybody.”