Report: GM, Ford, Toyota should worry more about Hyundai than one another

2012 Hyundai Genesis

As I’ve mentioned before, the automobile industry is in a world war with the Germans. But the companies aren’t exactly allying with each other either as Hyundai is making the big names like Toyota, Honda, Ford and Chevrolet tremble in their footsteps. It should be no surprise as to why.

With the success of the Sonata and the well-mannered Accent, Hyundai is doing better than ever by nearly obtaining class-leading status in several segments.

For example, sales statistics for the US have shown that the Hyundai Sonata has outsold the Chevrolet Cruze, Honda Accord and the Nissan Altima in the first five months of 2011.

Additionally, Hyundai is also taking after Honda, Nissan and Toyota by introducing a luxury-car brand that debuted with the Equus flagship. Though instead of introducing a new brand and dealer network to compete with the likes of Lexus, Acura and Infiniti because it is too expensive, Hyundai vice-president of product planning Mike O’Brien said that they are focusing on the value of their customers’ time.

Point being is that the already existing industry leaders have much to fear when it comes to comparing their offerings with the latest and greatest from South Korea. And with Kia, a subsidiary brand of Hyundai Motors since 2009, announcing plans of their expansion including a new rear-wheel drive V8 powered concept, the Koreans are seriously upping their ante.

– By: Chris Chin

Source: CNNMoney