· Hybrid cars
· Provide training to dealers
· Boosting fuel efficiency
· Optimize production processes to minimize losses
· Launch electric cars
· Exchange rates
· Inflation
· High Fuel prices
· Improvement in public transport
· Competition
SWOT Matrix (Image)
Strengths
• Fastest growing automaker by brand.
• Strong research & development; it has established eight Research and Development centers in different part of the world.
• It has world largest automobile plant named “The Ulsan Plant” located in Korea.
• Hyundai vehicles are sold in 193 countries via 6000 dealers.
• It was ranked 8th in automotive brand ranking of 2013.
• Fastest growing company in automotive industry..
• Growth in Europe region sales.
• Strong revenues and profits in 2013.
• Hyundai’s brand value reaches $9 billion, ranking No. 43 in Interbrand’s 2013 Best 100 Global Brands
• Hyundai Motor to launch first electric car in 2016.
Weaknesses
[large]• Low availability of spare parts due to unavailability of authorized dealers and distributors.
• Hyundai recalled cars on different occasions due to issues in seat belt and brakes.
• In 2013, the sales goes down by 4% in Korea.
• Production losses
• Lack of attractive car designs as compared to major competitors.
• Weak presence in Asia region.
• The sales are on lower side in Japan.
Opportunities
• Manufacture low price and fuel efficient cars for third world countries
• Enter into untapped markets.
• Joint ventures to open assembling plants.
• The fuel prices are increasing therefore; it’s the right time for Hyundai to start focusing on manufacturing Hybrid cars.
• It should launch its electric cars ahead of other competitor to get first move advantage.
• Provide training to dealers to improve customer services.
• Boosting fuel efficiency
• Increase production efficiency of manufacturing plants to increase global sales.
Threats
• Conflict between South and North Korea could impact the largest production facility of Hyundai Motors.
• Fierce competition in automobile industry.
• Unrest in Africa region.
• Raise in price of fuel might reduce the demand of Hyundai vehicles.
• Betterment in public transport infrastructure could decline the company sales.
• Fluctuations in currency exchange rate might negatively impact the company profit margin.