Hyundai Morphs from Value Brand to Valuable Brand: CEO

Hyundai Morphs from Value Brand to Valuable Brand: CEO

Hyundai‘s growth in sales has only been hindered by the fact that the Korean automaker can’t produce enough cars to sell. Now ranked the seventh-largest automaker in the US by sales, Hyundai is looking towards the future to build on its recent success.

In a recent interview, Hyundai CEO John Krafcik gave some details on what the Korean automaker is focusing on for the near future. And while he’s well aware that Hyundai’s production capacity could be handing some sales to its competitors, the CEO is still “comfortable” knowing that the automaker focuses on quality over quantity.

As for what Hyundai has in store for the future, it will continue to focus on gasoline engines while also developing its alternative-power vehicles. According to Krafcik, the gasoline engine will still the primary powerplant in 30 years, as technology continues to refine and optimize the performance that can be offered. The big debate is whether or not alternative fuels will continue to be attractive and be a viable option for vehicles in years to come.

And if you think bigger is always better, the Korean automaker is sticking with four-cylinder engines in its development cycles. “Four-cylinders are absolutely the future,” said Krafcik. Turbocharged four-cylinders will clearly be the optimal compromise between performance and fuel efficiency for years to come, but don’t look for Hyundai to totally scrap its V6 powerplants.

Talking about becoming a more global brand, Krafcik reiterated that Hyundai doesn’t believe in a “one-car-for-the-world” mantra. The Korean automaker will continue to develop separate models for separate markets, depending on needs and wants for each demographic.

Future models will also continue to lose some weight in order to achieve more efficient fuel figures, while naming of Hyundai’s vehicles will continue on as it has been – no alphanumerics are coming this way.

Of course the biggest news is Krafcik’s statement that he hopes Hyundai will become a valuable brand, rather than just a value brand. That means more luxurious amenities in its models and ultimately an increase across the board on the vehicle’s cost. But given its quality and stylish designs, the Korean automaker is clearly on the right path for a bright future.

[Source: USA Today]