Volkswagen CEO not only worried about Toyota but Hyundai as well

Volkswagen CEO - Martin Winterkorn

As Volkswagen AG sets its sights on Toyota in its quest to become the world”s largest automaker, it won”t soon be letting its guard down when it comes to Hyundai. VW CEO Martin Winterkorn lent specific mention to Hyundai”s having learned to build good cars.

“I have the most respect for Hyundai,” VW CEO Martin Winterkorn told the German news magazine Focus, naming Hyundai’s improved quality.

Automotive researcher Stefan Bratzel agrees with Winterkorn, and points out that Hyundai has seen tremendous growth in sales and profitability as of late, and is a serious competitor. Hyundai also has a strong presence in the emerging markets of Asia, as Bratzel also points out, with a 16% market share in India, and steady growth in China.

Hyundai is increasingly making better quality cars, and at a great price. This has allowed them to boost sales significantly in North America, and compete seriously against the Camry and Accord.

-By: Stephen Calogera

Source: Automotive News (Subscription Required)