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SWOT analysis of Company Hyundai

SWOT analysis of Company Hyundai

This article is about the detailed SWOT analysis of company Hyundai. Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, South Korea which has an annual production capacity of 1.6 million units. The company employs about 75,000 people worldwide. Hyundai vehicles are sold in 193 countries through some 5,000 dealerships and showrooms.  Let’s do the SWOT Analysis of Company Hyundai to get a proper analytic view of the brand’s strengths, weaknesses, opportunities, and threats (SWOT).

SWOT analysis of Company Hyundai

Strength

Strength

1. Hyundai India has such brand value that it is nearly thought to be an Indian brand, with a lot of good honors for being India’s second most selling brand beside MUL in a piece of the pie

2. Hyundai Motor India Limited is the biggest vehicle exporter from Asian Market which indicated a 10% development contrasted with last FY

3. HMIL is known for its quality items which have better execution and it has continually been ahead in the race with Maruti Udyog constrained in numerous parameters

4. The item length incorporates around 8 autos, beginning from new Eon in little vehicle section to SUV fragment Santa Fe

5. Hyundai items never neglect to win shrubs in each portion from different vehicle evaluations as far back as its tasks in India

6. Hyundai has the biggest system of showrooms and administration station by Maruti in India

7. An article in Economic times cited that “Hyundai Eon propelled, steps on Alto domain” showed that Eon will go about as a danger to decrease in Alto’s piece of the pie

Weaknesses

Weaknesses

1. HMIL set aside a long effort to pick up the piece of the overall industry as its not the first mover in Quite a while

2. As far as the most solid and confided in the brand; Maruti is increasingly solid in the Indian subcontinent

3. Extra parts of Hyundai vehicles are relatively estimated higher and extra parts don’t have PAN India nearness

4. In the SUV fragment both Tucson and its next model Santa Fe didn’t have a significant effect

5. Increment in item costs, for example, steel, aluminum, and auxiliary parts has influenced edges

6. Since HMIL focuses on both local and global deals there are higher dangers of conversion scale vacillations

7. As Hyundai significantly focuses on quality, a large portion of its item is in the exceptional classification in each section. Hyundai is as yet battling to improve an effect in the little vehicle fragment as far as cost productivity like different makes

8. Hyundai doesn’t have any item match to contend in Corporate requests like Tata Indica V2, Tata Sumo, Tata Indigo, Chevy Tavera, Ford Fiesta, and so on. These vehicles are most favored in both the taxi portion and government reserving for mass requests

Opportunities

Opportunities

1. SIAM – Society of Indian Automobile Manufacturers, has expressed that there is a consistent increment in Car deals both Domestic and Indian contributing a significant offer in India’s Gdp

2. The fare markets development rate is 22.30% contrasted with the last monetary year

3. The sparing utilization example of India is an additional bit of leeway for any fragment working together in India. This was one of the significant purposes behind the Indian market to make due in the midst of a worldwide downturn

4. There is a more extent of HMIL to go into a little vehicle fragment as it has a committed R&D plant in Hyderabad, India. Hyundai is one of the not many organizations that has most stretched out R&D arrange over the world situated in Korea, Europe, India, US, Japan

5. Hyundai has a generally excellent open door is going into business vehicles and Recreational vehicles as they are as of now doing admirably outside India. At present, HMIL has its attention just on Passenger vehicle section

Related- SWOT Analysis of Company Tesla

Threats

Threats

1. Despite the fact that Hyundai claims itself to have no immediate contenders other than MUL, there are Indian players like Tata, Mahindra forcing a solid risk for Hyundai Motors India to grow its item classification

2. Remote Direct Investments streaming in Indian car space are bad signs for previously existing Giants like MUL and Hyundai.

3. Practically all significant car players have fired attacking India to open up their market and their assembling plant in India.”Chennai” is alluded to as the Detroit of Asia!

4. Hyundai confronted a slight decrease in a piece of the pie because of the intense challenge from Ford’s Figo and Volkswagen-Polo

5. Numerous makers have begun to focus on the little vehicle section as an option to Nano. These will hinder the normal offers of Eon.

Must Read- SWOT Analysis of Company Apple

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