No reported injuries or accidents have been linked to complaints. Another report says a bolt in the steering system can become loose.
Low fuel prices opening new markets for Hyundai Currently, fuel prices are the lowest in a decade. About 16, Sonatas might be involved. Inthere was an estimated global excess production capacity of 31 million units. Both result in lower revenue and operating profits.
Increasing government regulations may raise the costs Many governments around the world are committed to reducing the greenhouse gas emissions and are encouraging fuel efficiency initiatives. Additionally, the driver said the decoupled steering shaft fell into a position that interfered with the ability to apply the brakes.
Hyundai spokesman Jim Trainor said the automaker has seen only two reports of a steering problem. Inthe company has already recalled more thanvehicles in the U.
However, due to rising consumer expectations in relation to in-car technology and the competitive nature of the industry, there is an argument to release the upgraded models more frequently.
The competition is further fueled by the fact that the global automotive production capacity far exceeds the demand. The key will be its ability to cost effectively implement technology initiatives in order to maximize a competitive advantage. The vehicle, which will go on sale this year, is designed to compete with Lexus, Mercedes-Benz and other luxury nameplates.
Korean Won exchange rate has been increasing against other currencies in and may increase significantly over the next few years.
Hyundai builds the new-generation Sonata and its Santa Fe sport-utility vehicle at the plant. The complaint said the vehicle was 2 months old and had been driven 4, miles when the steering mechanism failed.
Historically, the new models have tended to have major upgrades every 4 or 5 years, with only minor modifications in between. This situation has encouraged consumers to buy big fuel-inefficient vehicles such as SUVs and pickup trucks.
Regulators are also examining whether a bolt in the steering system can become loose.
Best Global Brands Hyundai to make low-cost SUVs to battle Chinese rivals — sources. Currency exchange rates are often volatile and depend on many factors, which Hyundai cannot control.
The vehicles involved in the probe were manufactured during the same month at the Hyundai factory in Alabama and had fewer than miles at the time of the alleged incidents, regulators said.
Interest rates in the U. Product recalls damaging brand reputation Over the last few years, Hyundai has issued vast product recalls.
The trend of low fuel prices is likely to stay and Hyundai could introduce wider range of SUVs or even consider introducing a line of pickup trucks.
The National Highway Traffic Safety Administration is looking into whether the vehicles can sustain a separation in the steering shaft assembly that results in a loss of steering capability. Kia is owned by Hyundai, and the two brands share technology. Hyundai has an opportunity to capture the higher market share and increase sales in such economic conditions.
This scenario would result in lower revenue and profits for Hyundai. Ford SWOT analysis The probe started when a Kia driver reported losing control of his car after the steering wheel came off.
New companies, such as Tesla with its electric cars, or even Google, which tries to build self-driving cars are also threatening the traditional automotive industry.
Increased competition Hyundai is faced with an ever increased competition from the traditional automotive companies and the new players. September 01, By Jerry Hirsch, Los Angeles Times Federal safety regulators have opened an investigation into reports of steering problems in the hot-selling Hyundai Sonata sedan.
The company has also recalled more than half a million vehicles in Hyundai, which relies mainly on the line of sedan cars, is at disadvantage in low fuel situation.
Next-generation Hyundai hydrogen fuel cells due in Timing and frequency of new model releases The market share of automotive companies is significantly impacted by the timing and frequency of new model releases.Report on Form K for the fiscal year ended Dec.
31,included elsewhere in this Annual Report, for a discussion of various risks and uncertainties that could cause actual results to differ materially from those expressed in these forward-looking statements.
Watch video · Many of Hyundai's vehicles continue to impress, with styling, fit and finish, and performance on par with Honda and Toyota.
The Santa Fe and Tucson SUVs, along with the Sonata sedan, and Elantras.
Hyundai Motor Annual Report. Sep 01, · Reports of steering problems in Hyundai Sonata prompt NHTSA investigation. The cars can sustain a separation in the steering shaft assembly that results in a loss of steering capability, a report says.
Another report says a bolt in the steering system can become loose. year as well as the business plan we will implement this coming year. Last year we at Hyundai Elevator achieved several milestones, including the continuation of our 10 Annual Report Annual Report 11 Hyundai Elevator Co., Ltd.
and Subsidiary Consolidated Statements of Financial Position (December 31, and ). Hyundai Motor Company is an automotive manufacturer from Seoul South Korea.
The company was established in by founder Chung Ju-yung as a construction company.Download