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Upstart Hyundai guns for Big Three Hyundai owner Mike Ruggero, a Detroit restaurant supervisor, was first attracted to the brand by its long warranty but found the design and prices hard to beat. "The cars are very stylish and look like they should be a lot more expensive than they are," he said.
Ruggero bought a Santa Fe sport utility vehicle and later traded it in for a midsize Sonata sedan. So far, his family has owned four Hyundais.
"They (Hyundai) are very aggressive in the marketplace in terms of their investment and pricing , " said Paul Ballew, General Motors Corp.'s executive director of global market and" industry analysis.
Benefiting from lower production costs, Hyundai and Kia are hammering rivals in the "cheap and cheerful" small-car segments in North America and Europe.
The Seoul-based automaker also is expanding rapidly in the world's two most populous countries -- China and India. Now, Hyundai is setting its sights higher, aiming to compete head-on with Japan's best carmakers and even planning some day to export luxury cars.
Hyundai takes aim at detroit. |
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