Hyundai Vietnam Strategy Essays

2995 Words Oct 24th, 2010 12 Pages
1. Introduction
Hyundai Motor Vietnam (HMV) founded in March 2006 and, Hyundai Motor Company which is one of the world leading automobile manufacturers in South Korea has appointed HMV as the official distributor of products for cars of Hyundai brand in Vietnam market. Hyundai Motor Vietnam received assistance with product development policy and genuine after sales service from the Hyundai Motor Company in South Korea. HMV has become one of the leading distributors of imported cars as well as the most prestigious in Vietnam. After more than two years since the company officially began operations, more than 6,000 cars and other vehicles of Hyundai brand was imported and distributed to consumers in nationwide by Hyundai Motor Vietnam. *
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Moreover, with the fuel prices so high, HMV offer petrol’s gift card for customers with the corresponding value when buying cars up to 50 million VND. * Threats * Chinese automakers are presenting the greatest threats for Hyundai, since they plan to arrive at the Vietnam market, threatening many present competing firms. Chinese automakers are capable of making huge amount of vehicles at very low cost, thus having the capability of taking a huge market share away from Hyundai’s target consumers. (Tung Lam, 2010) * Vietnam people tend to prefer cars of Toyota's as same as Honda's motorcycle, and in the eyes of Vietnamese the car is not only mean a vehicle, but also a big asset by a very high price because of many taxes from the government. So with a new brand like Hyundai will face many difficulties when engaging customers. * By the tendency of consumers in Vietnam is like Japanese cars, so the used cars of other brands often lose value more than Japanese cars in Vietnam, there is also a reason why customers would consider when buying a car brand of Korea such as Hyundai.

3. Competitive analysis * Toyota Vietnam
Toyota Vietnam officially went into operation in October, 1996 with the function of producing, assembling and trading of other Toyota cars. * Strengths * Toyota is one of the leading automotive brands in the

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