The top Hyundai Competitors are Toyota Motor Corporation, Volkswagen, GM Motors, Ford Motors, Nissan, Honda Motors and others. Hyundai is a popular automotive manufacturing company that was set up during the year 1967 and is headquartered in Seoul, South Korea. Having started as a construction company, Hyundai has faced many restructuring in its business operations and currently being named as Hyundai Motor Company. The company designs manufacture and sells vehicles worldwide. Hyundai vehicles are produced with great care and it becomes a lifetime companion for the customer.
Hyundai has an annual manufacture capacity of about 1.5 million units. Hyundai Motor Company announced that it sold 3,944,579 vehicles in 2022. For December 2022, Hyundai’s monthly global sales totaled 347,340 units, including 276,953 for overseas markets and 70,387 for the Korean market. It has about 223,000 employees across the world. Hyundai Motor net income for the quarter ending March 31, 2023 was $2.649B.
The company possesses good brand equity and is considered the largest exporter of cars in the Asian market. Hyundai’s product line is huge and produces about eight products that start from small car segments like Eon to big car segments SUV segments. Their vehicles are produced with great designs and have good safety features.
Hyundai being one of the top automobile industries, it does face some strong competitors. Through this article, let us discuss the top Hyundai competitors.
Table of Contents
Top Hyundai competitors
1) Toyota Motor Corporation
- Product Type: Automotive manufacturing
- Industry: Automotive
- Founded: August 28, 1937, in Japan.
- Founder: Kiichiro Toyoda.
- Headquarters: Toyota City, Aichi Prefecture, Japan.
- Area Served: Worldwide.
- Current CEO: Akio Toyoda.
- Revenue: $76.992B (June 30,2023)
- Number of employees: 375,235 (2023)
- Market capitalization: $225.85B (August 14, 2023)
- Parent: Toyota Group
- Production output: 8.69 million units( March 2023)
A top Hyundai competitor, Toyota is a popular automotive manufacturing company formed during the year 1937 and headquartered in Aichi, Japan. To meet the market requirements and its competitors, Toyota produces many vehicles that are designed by their team.
It has a stronghold in research that has seen its way in producing motor-powered vehicles. The various products of Toyota are cars, SUVs, 4WDs, and hybrids. Amongst the revenue, Toyota is ranked fifth in the world.
Toyota is the dominant leader in the world car group ranking in 2023, with cumulative data up to April 2023 showing that they sold 3.4 million vehicles and maintained a substantial distance from the runner-up, Volkswagen. Also in 2022, Toyota managed to maintain its position as the world’s best-selling automaker for the third year in a row.
The company produces approximately 10 million vehicles per year with the help of their huge human power. Toyota’s vehicles are looked upon while making choice during purchase. Toyota’s vehicles are known for using great technology. The company produces vehicles using great technology. Their vehicles have a unique design thereby being popular worldwide. It provides a great customer service and due to which it is a top Hyundai competitor.
2) Volkswagen
- Product Type: Automotive manufacturing.
- Industry: Automotive
- Founded: May 28, 1937, in Berlin, Germany.
- Founder: The German Labour Front, a Nazi organization.
- Headquarters: Wolfsburg, Germany.
- Area Served: Worldwide.
- Current CEO: Oliver Blume.
- Production output: 8.7 million (2022)
- Revenue: $81.791B (March 31, 2023)
- Number of employees: 669,275 (2022)
- Market capitalization: $43.97B (August 15, 2023)
- Parent: Volkswagen Group
Also a top Hyundai competitor, Volkswagen is a well-known brand in the automotive industry. Volkswagen was formed during the year 1937 and is headquartered in Germany. The company produces buses, cars, heavy trucks, motorcycles, light trucks, engines, and maritime machinery.
Volkswagen Group has operations in roughly 150 countries, with 119 production facilities in 19 European countries and 10 countries in the Americas, Asia, and Africa. The group operates 117 production plants in 20 European countries and a further 10 countries in the Americas, Asia, and Africa. It is estimated that the company produces about 10 million vehicles per year. Volkswagen is the largest brand in the automotive sector produces many brands like Volkswagen Beetle, Volkswagen Jetta, Volkswagen Phaeton, Volkswagen Passat, Volkswagen Vento, Volkswagen Polo, and Volkswagen Touareg. Volkswagen’s net income recorded was $4.518B for the quarter ending March 31, 2023.
The buyers have a wide range of cars to be chosen from. The company has an excellent marketing strategy by means of TVs, print media, online ads etc. Volkswagen has a great image and has its existence across the world. Each and every product is unique and due to which it is a top Hyundai competitor.
3) GM Motors
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: September 16, 1908.
- Founders: William C. Durant, Charles Stewart Mott, Frederic L. Smith.
- Headquarters: Detroit, Michigan, United States.
- Area Served: Worldwide.
- Current CEO: Mary Barra.
- Production output: 5,939,000 vehicles (sales, 2022)
- Revenue: $44.746B (June 30, 2023)
- Number of employees: 167,000 (2022)
- Market capitalization: $46.88B (August 14, 2023)
General Motors Company that is commonly referred as GM is an American automobile industry that was established during the year 1908 and is headquartered in Michigan, United States. The company designs products and markets trucks, cars, and various automobile parts.
It also provides financial service. It is one of the main automobile industries in the world. The company has a strong presence in Europe, North and South America, and China. In China, GM operates by means of many JVs and own Chinese enterprises that makes GE the largest foreign automaker with regards to sales. Having such strong markets has helped GM to consolidate global market leadership.
In May 2023, GM announced the creation of GM Envolve. As of January 2023, GM is ranked 25th on the Fortune 500 rankings of the largest United States corporations by total revenue. General Motors Company net income was $2.540B for the quarter ending June 30, 2023.
GM has varied product portfolio with various brands like Buick, Chevrolet, GMC, Cadillac, Opel, and many more. Their products are available across the world. The company has a strong focus on technology and has invested a huge amount in various Research and Development activities. It innovates new products and services, improves features related to safety and fuel economy. It has a great emphasis on creating environment-friendly policies thereby creating safe and eco-friendly vehicles and due to which it is a top Hyundai competitor.
4) Ford Motors
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: June 16, 1903, in Dearborn, Michigan, United States.
- Founders: Henry Ford, John S. Gray, Horace E. Dodge, James Couzens.
- Headquarters: Dearborn, Michigan, United States.
- Area Served: Worldwide.
- Current CEO: Jim Farley.
- Number of employees: 173,000 (2022)
- Major products: Ford Mustang, Ford F-150, Ford Explorer, Ford Escape, Ford Transit
- Revenue: $44.954B (June 30, 2023)
- Market capitalization: $47.95B (August 15, 2023)
Ford is an international automobile company that was established during the year 1903 and is headquartered in Michigan, United States. The company designs manufacture and sells various automobile vehicles. Ford vehicles are designed for a commercial purpose and it meets the security and quality that every user would prefer. Ford vehicles are known for reducing emission to a great extent.
Ford had a production output of 4.2 million vehicles in 2022. Ford Motor net income for the quarter ending June 30, 2023 was $1.917B.
Ford has its great innovation in the automobile sector and takes great effort to manufacture the vehicles. It designs its own vehicles and Ford vehicles are available in small and big size. It also provides great customer service to their customers.
It has excellent Research & Development wing that is devoted to the improvement of vehicle performance with respect to fuel efficiency, safety and develops new products. Few of the new technology that it has worked with is fuel efficiency like six-speed transmissions, direct injection of gasoline, and plug-in hybrid powertrain. It has a great market share and due to which Ford is a top Hyundai competitor.
5) Nissan
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: December 26, 1933, in Yokohama, Japan.
- Founder: Yoshisuke Aikawa.
- Headquarters: Yokohama, Kanagawa Prefecture, Japan.
- Area Served: Worldwide.
- Current CEO: Makoto Uchida.
- Production output: 3,250,800 units (2022)
- Revenue: $23.633B (March 31, 2023)
- Number of employees: 134,111 (2023)
- Market capitalization: $16.49B (August 15, 2023)
- Owner: Renault (43.4% cross ownership)
Yet another top Hyundai competitor, Nissan is a popular automobile industry that was established during the year 1933 and is headquartered in Yokohama, Japan. Nissan’s popular brands are Datsun, Nissan, and Infiniti. It is also famous for its largest producers of the electric vehicle across the globe.
It is estimated that their sale of electric vehicles is about 275,000 per year. Nissan has its presence in about 190 countries across the world. Nissan has 31 manufacturing plants worldwide and offers products and services in more than 160 countries. The company has a strong Research and Development team thereby having a lot of innovations in the automobile sector. Nissan main market attraction is Russia, China, Japan, and the US.
The most popular Nissan car models are the Nissan Rogue and the Nissan Altima. These models have consistently been popular among consumers due to their reliability, practicality, and value for money.
In the first quarter of 2023, Nissan Group announced total U.S. first quarter sales for 2023 of 235,818 units, an increase of 17.3% versus the prior year. Nissan Motor net income for the quarter ending March 31, 2023 was $0.795B.
Nissan produces huge products like sports utility vehicles, passenger cars, zero-emission vehicles, luxury cars and many more. It has a strong geographic presence in about 20 countries and sale in 170 countries, due to which it is indeed a top Hyundai competitor.
6) Honda Motors
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: September 24, 1948,
- Founder: Soichiro Honda.
- Headquarters: Minato, Tokyo, Japan.
- Area Served: Worldwide.
- Current CEO: Toshihiro Mibe.
- Production output: 3,870,161 (2022)
- Revenue: $33.762B (June 30, 2023)
- Number of employees: 204,035 (2022)
- Market capitalization: $52.82B (August 14, 2023)
Honda is a popular automobile industry that was established during the year 1946 and is headquartered in Tokyo, Japan. It is the largest manufacturer of motorcycle and the internal combustion engine. It produces approximately 14 million internal combustion engines per year.
The main key to success for this brand is having an excellent R&D. The manpower employed in R&D provides tremendous support for the development of various products and due to which Honda comes up with stylish and efficient designs that are a great hit in the market.
Honda net income for the quarter ending June 30, 2023 was $2.650B. In 2022, Honda built a total of 3,870,161 vehicles worldwide, which was a 6.4 percent decrease from the previous year. Honda’s best-selling model in the United States in 2022 was the CR-V, with 238,155 units delivered. The passenger car production of Honda worldwide as of October 2022 was 3.28 million cars.
Honda’s vehicles are equipped with great technology and due to which it has seen many people opting for their vehicles. Honda leads in the manufacturing of high-powered vehicles worldwide and it keeps delivering hit products every time. Due to its excellent strength factors, Honda has a major market share in most of the products that it manufactures. The product portfolio of Honda is huge and a great hit, due to which it is considered a top Hyundai competitor.
7) Fiat
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: July 29, 1899, in Turin, Italy.
- Founder: Giovanni Agnelli.
- Headquarters: Turin, Piedmont, Italy.
- Area Served: Worldwide.
- Current CEO: Stellantis CEO Carlos Tavares.
Fiat Automobiles commonly known as Fiat is a popular automotive brand that was established in the year 1899 and is headquartered in Piedmont, Italy. Fiat is the abbreviation for Fabbrica Italiana Automobili Torino. It is a major manufacturer of the automobile in Italy. Its business operations include design, production, and sale of vehicles and its related components.
Fiat vehicles have a unique design, stylish in look and are available at an affordable rate. Fiat produces about two million cars per year and is known for the technology included in their vehicles. It operates in many foreign markets that have helped them to deal with businesses in the right way. Fiat has a strong association with old and luxury cars.
Fiat has outperformed all other Stellantis brands in the first half of 2023, selling 645,000 vehicles globally, with half sold outside of the U.S. . The 2023 Fiat 500X crossover SUV has received positive reviews for its all-wheel drive capability, technology, and performance. According to Stellantis, Fiat delivered over 1.2 million units globally in 2022, including sales of Fiat Professional and Abarth, making it the best-selling automotive brand in the group.
The automobiles brand Ferrari and Maserati are associated with Fiat. The company produces sedans, hatchbacks, and SUVs. Fiat has an excellent brand image and due to which it is considered one of the top Hyundai competitor.
8) Renault
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: October 25, 1899, in Billancourt, France.
- Founder: Louis Renault.
- Headquarters: Boulogne-Billancourt, France.
- Area Served: Worldwide.
- Current CEO: Luca de Meo.
- Revenue: $48.878B (2022)
- Market cap: $11.96B (August 31, 2023)
- Number of employees: 105,812(2022)
Yet another Hyundai competitor, Renault is a French automobile manufacturing company that was formed during the year 1899 and is headquartered in France. Renault produces cars, vans, trucks, tractors, buses, coaches, and auto rail vehicles.
It is known for its stylish design and durability. The company has a strong customer base that has made this brand a popular one. Over the years it has also accumulated many loyal customers which have bought this brand to this level. One more key highlight of this brand is the strong international presence that it possesses. It is not just confined to Europe but widespread across the world.
Renault Group’s global sales amounted to 2,051,174 vehicles in 2022. RENAULT annual net income for 2022 was $-0.356B.
Renault’s cars are manufactured for every part of society thereby it designs and manufactures cars that vary from small cars to SUVs. As it deals with a huge range of cars, it is seen separate in the market. Renault is available in 134 countries through its different sales subsidiaries, factories, and design and engineering centers on five continents and has about 105,812 people working for them. As these cars are available for feasible prices, it is indeed a top Hyundai competitor.
9) Volvo
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: 1927, in Gothenburg, Sweden.
- Founder: Assar Gabrielsson and Gustaf Larson.
- Headquarters: Gothenburg, Sweden.
- Area Served: Worldwide.
- Current CEO: Jim Rowan.
- Production output: 615,000 (2022)
- Revenue: 473.479 billion kr (2022)
- Number of employees: over 102,155 (2022)
- Market capitalization: $41.84 Billion (August 2023)
A popular automotive manufacturing company, Volvo was formed during the year 1927 and is headquartered in Gothenburg, Sweden. The main business operations of Volvo are production, distribution, and sale of trucks, buses, and construction equipment. Apart from these it also produces systems for the marine and industrial drive.
Volvo cars are believed for their safety standards and classic style. It is placed as a safe car to drive by having innovative safety features. The main strength of Volvo cars is its efficiency and excellent safety features. It has a high inclination in maintaining a quality of driving. Volvo cars are available worldwide through approximately 2,300 local dealerships in nearly 100 countries.
As of 2022, it has plants in 19 countries, with 10 other countries having independent assemblers of Volvo products.
During the first five months of 2023, the company sold 275,312 cars. In full-year 2022, Volvo global sales contracted by 12% to 615,121 cars with the XC60 against the most-popular model worldwide.
The brand focuses on quality, durability, and safety of the vehicle by focusing on the materials used in its production. It has a diverse portfolio and its business operations are well balanced and provide an end-to-end solution. Due to its lead in the automobile industry, it is a top Hyundai competitor.
10) Peugeot
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: 1810, in Sochaux, France.
- Founder: Jean-Pierre Peugeot.
- Headquarters: Sochaux, France.
- Area Served: Worldwide.
- Current CEO: Linda Jackson.
- Revenue: US$27.0 billion (2022)
Peugeot is an automotive manufacturing company that is formed during the year 1810 and headquartered in Sochaux, France. It has its large manufacturing plant in France. The company designs and produces cars, luxury cars, sports car, and commercial vehicles. Peugeot is known for its innovative design and their cars are reliable. Peugeot has received many international awards for their vehicles that include five European cars of the year awards.
Peugeot is present in more than 160 countries with 10,000 retailers. Peugeot realized a total revenue of US$27.0 billion worldwide. PEUGEOT achieved 1,056,182 registrations in 2022.
It is also ranked second for average CO2 emission amongst all the brands in Europe. These cars have also dominated the World Rally Championship. Having a strong legacy ever since its formation has bought Peugeot to become one of the top Hyundai competitors.
11) Chevrolet
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: November 3, 1911, in Detroit, Michigan, United States.
- Founder: Louis Chevrolet and William C. Durant.
- Headquarters: Detroit, Michigan, United States.
- Area Served: Worldwide.
- Current CEO: Mary Barra.
- Revenue: US$72.1 billion (2022)
A popular automotive company Chevrolet was formed during the year 1911 and is headquartered in Michigan, United States. Chevrolet’s vehicle is sold in most of the automotive markets worldwide. It is a flagship brand of its umbrella brand, General Motors.
Chevrolet key factor for success is their quality, innovation, and safety features seen in their vehicles. Chevrolet has its business operations in many countries worldwide with major operations in the USA. The company sells the majority of their cars in the USA. It manufactures vehicles in almost 37 countries under 13 brands. Chevrolet has a good history of product innovation and technological advancement. It also invests in hybrid and plug-in vehicles for both cars and trucks.
Chevrolet sales increased 17-16% to 852,187 units during the second quarter of 2023. The Chevrolet Camaro sales increased by 110% in Q2 2023. Chevrolet realized a total revenue of US$72.1 billion worldwide in 2022.
The company has more than three lakhs skilled employees working for them across many countries producing great products. Its parent company is General Motors is a famous brand in the automotive sector and due to which Chevrolet is a top Hyundai competitor.
12) Mazda
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: January 30, 1920, in Hiroshima, Japan.
- Founder: Jujiro Matsuda.
- Headquarters: Fuchu, Aki District, Hiroshima Prefecture, Japan.
- Area Served: Worldwide.
- Current CEO: Akira Marumoto.
- Revenue: $25.577B (2022)
- Number of employees: 48,750 (2022)
- Market capitalization: $6.43B (August 2023)
Mazda Motor Corporation commonly known as Mazda is a Japanese manufacturer of automobile that was formed during the year 1920 and is headquartered in Hiroshima, Japan. The company produces many products and some of the popular ones are Mazda MX, Mazda CX, and Mazda MX 5 Miata. It deals with products like trucks, SUVs, convertibles, and crossovers.
Mazda has two plants located in Hiroshima and Yamaguchi. The company’s vehicles are popular for its sturdiness and performance of the vehicles even for rough roads. The main feature of Mazda vehicle is the Wankel Rotary engine that was used for first time in Cosmo sport during the year 1967. Their vehicles are popular for their ease of use and its high power.
As of January 2022, the United States is Mazda’s biggest market, followed by China and Japan. Mazda Motor annual gross profit for 2022 was $5.637B. Mazda Motor annual net income for 2022 was $0.669B.
Mazda introduced the convertible sports car which is a great hit even today. The company provides great importance in innovation and makes use of it for car design that is trendy, environmental safety, and comfort. It has a strong focus on research to streamline productivity and due to which it is indeed a top Hyundai competitor.
13) Maruti Suzuki
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: February 24, 1981, in New Delhi, India.
- Founders: The Government of India and Suzuki Motor Corporation.
- Headquarters: New Delhi, India.
- Area Served: India, Nepal, Sri Lanka, Bangladesh, and Bhutan.
- Current CEO: Hisashi Takeuchi.
- Revenue: INR 1,125,008 million (2023)
- Market capitalization: $36.62 Billion (August 2023)
Yet another Hyundai competitor, Maruti Suzuki is a popular brand in the automobile industry that was formed during the year 1981 and is headquartered in New Delhi, India. The company became famous after the production of the evergreen car Maruti 800.
It is a market leader in India has great brand equity. It is excellent in terms of its service it provides to the customers. Maruti is in the leadership position in the automotive market by having a market share of about 48.74. The main strength of Maruti is having a large network of dealers and after-sales service centers across the country.
Maruti Suzuki India Ltd reported a 42.7% surge in its fourth-quarter profit for the year ended March 31, 2023, beating estimates as the country’s biggest carmaker benefited from strong demand for passenger cars. The company posted a profit of 26.24 billion rupees ($321.2 million) for the quarter ended March 31, compared to 18.39 billion rupees a year ago. In Q1 of FY2023-24, Maruti Suzuki India’s profit rose 145.31% to Rs 2,485 crore, and revenue was up by 22% . In June 2023, Maruti Suzuki’s consolidated net sales were at Rs 32,338.50 crore, up 21.98% YoY. Maruti Suzuki’s standalone net profit jumped 43% YoY to Rs 2,624 crore for the fourth quarter ended March 2023.
Maruti Suzuki has achieved the highest number of domestic sales by selling 1,966,164 units in the full financial year 2022-23. It has a strong brand value and loyal customer base. It has about 15 vehicles in its product portfolio and has good product lines with good fuel efficiency.
14) Tata Motors
- Product Type: Automotive manufacturing.
- Industry: Automotive.
- Founded: 1945, in Mumbai, India.
- Founder: Jamsetji Tata.
- Headquarters: Mumbai, India.
- Area Served: Worldwide.
- Current CEO: N Chandrasekaran.
- Number of employees: 59,000 (2022)
- Revenue: Rs 3.5 lakh crore (2023)
- Market capitalization: $26.86 Billion (August 2023)
Tata Motors is a popular automotive industry that was established during the year 1945 and is headquartered in Mumba, India. It is one of the oldest and trusted brands and has an extensive distribution with strong market penetration in India.
The various segments of this company are Sedan, Hatchback, and SUV. It is placed top in the automobile market by focusing on innovative technologies to deliver value to customers. Tata Motors has expert professionals and provide excellent service to customers. Having associations with Jaguar, Hispanic, Land Rover, Macropolo, etc has increased the international presence of Tata Motors.
Tata Motors is pioneering India’s Electric Vehicle transition and is India’s largest selling commercial vehicle manufacturer and is amongst the top three in the passenger vehicles market.
For the full 2022-23 fiscal, Tata Motors reported a net profit of Rs 2,414 crore against a net loss of Rs 11,441 crore. Tata Motors registered total sales of 74,973 vehicles in May 2023. The company has operations in India, the UK, South Korea, and South Africa, with a network of 86 subsidiaries, ten associate companies, four joint ventures, and two joint operations as of March 31, 2022.
The company has a strong Research and Development department to bring out new products and to enhance the features in the vehicles. Having the parent brand as Tata, the company has a strong legacy and due to which it is a top Hyundai competitor.
Conclusion
The automotive industry is involved in design, manufacturing, and selling of motor vehicles and always brings out the best products in the market. Hyundai Company has a huge product line and brings out new products to beat its competitors.
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