Honda CEO: Hyundai is awesome, a threat to future of Japanese automakers

Ito TakanobuLast week, Toyota’s CEO said that his company “grasping for salvation.” Today, Honda’s CEO is complimenting Hyundai saying that they are a threat to Japanese made vehicles. What is going on with these Japanese CEOs?

Honda’s CEO Ito Takanobu said that he sees Hyundai as a huge threat to the future of Japanese automakers.

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

Of course there’s good reason behind his compliment. The Korean automaker has seen strong sales growth all over the world and has been the top selling brand in Britain for retail sales.

Even Nissan’s designer, Shiro Nakamura, is complementing Hyundai. “Hyundai is the biggest threat for the Japanese automakers,” he said. “They have the technology, but they seem to have cheaper labor.”

– By: Stephen Calogera

Source: AutoCar