We all know VW’s ambition to topple Toyota as the no. 1 automaker on the planet by 2018 but as it turn out, VW’s CEO Martin Winterkorn no longer considers the Japanese company as its biggest rival.
In what will sound as music to Hyundai’s ears, VW sees the Korean company as its biggest rival in its quest to become the numero uno than Toyota which is struggling with recalls and quality problems lately.
“I have the most respect for Hyundai,” VW CEO Martin Winterkorn told the German news magazine Focus, naming Hyundai’s improved quality and the weakness of the Korean currency as reasons why Hyundai is on his mind. “Hyundai has now learned how to build good cars,” added Winterkorn.
source: autonews
The comments haven’t exactly surprised industry watchers.
“Hyundai has enjoyed enormous growth in sales and profitability in recent years. Toyota should not be forgotten but Hyundai is a very serious rival.”
Bratzel said Hyundai is strong in Asia, especially in India where it is the No. 2 automaker after Suzuki with a 16 percent market share, and in China, where the Korean company is enjoying fast growth.
IHS Automotive auto analyst Ian Fletcher said Hyundai and Kia can now match Japanese automakers for quality. “They are not just building cheap cars. They are building cheap, good cars,” he said.
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