▲Rolf Altufijevo dealership in Moscow
Summary
MOSCOW - Hyundai Motor Co. is looking to tap the growing middle class to consolidate its position in the Russian car market. Since first exporting to Russia in 1990, the company has grown rapidly to become one of the country`s largest carmakers. The company currently has the second largest market share among foreign carmakers in Russia after General Motors Corp.`s Chevrolet. Among all carmakers, Hyundai Motor holds the third largest market share. Last year the company sold about 148,000 units and recorded a market share of 9.3 percent. For 2008, the company hopes to raise sales by 35 percent to reach 200,000 units. "In the past, cheaper Russian cars like the Lada were popular but with more people joining the middle class, Hyundai cars are gaining more and more attention," said Dmitry Sergeev, the director of the Rolf Altufijevo dealership in Moscow.
My Opinion
When I was in New Zealand, I was very proud that there were many Korean company cars on the streets. Among those I could see many Hyundai cars. Most of my foreign friends said they prefer Hyundai cars to Japanese cars such as Toyota, Mizda. I asked them why. The reason was cheap price but also practicality. As you see Hyundai cars have comparative advantage in price compared to other cars, Benz, Toyota, GM etc. So Hyundai decided to reposition in Russian car market for the middle class. The middle class people might be eager to have a car that has lower price than luxurious cars and practicality. I think Hyundai made a good decision. Getting into international market is very important for Hyundai because of domestic market which is already saturated. A few monthes ago, I heard Hyundai launched selling new model 'Genesis'. When I saw its prototype, I was shocked. It was amazing, and I could not believe Korean company made it. Anyway Genesis has many advantages(strengths) in price, practicality, design, and power. I think Genesis will be a beneficial model for positioning in the middle class. In FTA era, we can only survive by improving and changing ourselves. I hope Hyundai will successfully change into a real global company by knowing foreign customer's value and needs.
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