Hyundai SWOT Analysis, Competitors & USP
SWOT analysis of Hyundai analyses the brand by its strengths, weaknesses, opportunities & threats. In Hyundai SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Hyundai to benchmark its business & performance as compared to the competitors. Hyundai is one of the leading brands in the automobiles sector.
The article below lists the Hyundai SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hyundai SWOT Analysis:
In this article:
SWOT Analysis of Hyundai
For Hyundai, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Hyundai Strengths
The strengths of Hyundai looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Hyundai :
1. Hyundai Motors company is one of the largest car manufacturers in the world
2. Hyundai vehicles are sold in more than 190 countries through some 5,000 dealerships and showrooms worldwide
3. Hyundai sells close to 4 million vehicles per year
4. The company has excellent branding and advertising by having celebrity brand ambassadors
5. Hyundai Motors company has over 75,000 employees globally
6. The company has an excellent product portfolio including wide range of hatchbacks, sedans and SUV's
7. Hyundai has a strong presence in motorsport and has been actively involved in sponsorships
8. Electric and hybrid cars offered by the company have enhanced its brand image
9. The brand consciously invests in research & development and ensures it makes high-end, high-performance safe vehicles
Hyundai Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Hyundai SWOT Analysis:
1. Hyundai faces tremendous competition means limited market share growth
2. Controversies regarding fuel engines & incorrect advertising have hurt the brand in the past
Hyundai Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Hyundai SWOT Analysis:
1. Developing cost-friendly Hyundai hybrid cars and fuel efficient cars for the future
2. Tapping emerging markets across the world can help Hyundai build a global brand
3. Fast growing automobile market can be tapped by the company
4. Innovation into hybrid cars as well as electric variants can help the brand
Hyundai Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Hyundai are as mentioned:
1. Government policies for the automobile sector across the world
2. Ever increasing fuel prices can lead to reduction in purchase of passenger car segment
3. Intense competition from global automobile brands can reduce market share of Hyundai
4. Hyundai's business can be affected by substitute modes of public transport like buses, metro trains etc
Hyundai Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 12 competitors of Hyundai:
1. Honda
2. Toyota
4. Chevrolet
5. Fiat
8. Tata Motors
9. Skoda
10. Volkswagen
11. Ford
12. Volvo
Hence this concludes the Hyundai SWOT analysis.
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About Hyundai
| Hyundai Overview | |
|---|---|
| Parent Company |
Hyundai Motor Company |
| Category |
Sedans, Hatchbacks, SUV’s |
| Sector | |
| Tagline/ Slogan |
New thinking new possibilities; Drive your way |
| USP |
Hyundai operates the world's largest integrated automobile manufacturing facility in S Korea, which is capable of producing 1.6 million units annually |
| Hyundai STP | |
| Segmentation |
Complete automobile segment including hatchbacks, sedans & SUV’s |
| Target Market |
Young executives from the upper-middle income bracket |
| Positioning |
Hyundai gives luxury cars at affordable prices which is a globally recognized and accepted brand |
| Hyundai Product Portfolio | |
| Brands |
1. Hyundai Accent 2. Hyundai i10 3. Hyundai i20 4. Hyundai Santa Fe 5. Hyundai Santro 6. Hyundai Sonata 7. Hyundai Tucson 8. Hyundai Verna 9. Hyundai Alcazar The above mentioned brands are the prominent products under the Hyundai product portfolio. |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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