Hyundai and Hankook Manufacturing Companies Essay

Hyundai and Hankook Manufacturing Companies - Essay Example According to the research findings, it can, therefore, be said that competition is a common factor that every company faces at every level of operation. In order to strengthen competitive power, motor companies and auto-related products tend to employ unique technologies that can enable them to survive in the market. Some have also relied upon their specific governments to protect them from competition caused by new entrants. The Hyundai motor company is one of the companies that face competition from other auto manufacturers. Hankook is also an example of a universally known company dealing with auto-related products like tires and spare parts. Hyundai Motor Company came into existence in 1968. Upon its establishment, the company merged with Ford Motor Company with the aim of filtering technology for building ships. Upon parting ways with Ford motor company, Hyundai Motors collaborated with the Mitsubishi motor company of Japan that helped in the manufacture of Pony, the first small passenger car with an engine power of 1500cc. In the reports of Lansbury, the success of the Pony model in the markets of Korea lifted the position of Hyundai Motor Company to the best position among other motor manufacturers in Korea. The impressive performance of Pony in the market motivated further innovation that led to the manufacture of Pony II version in 1973. Good features associated with the Pony model enabled Hyundai to penetrate the Canadian market, where it made high sales. With the continued partnership of Mitsubishi and Hyundai, Hyundai produced other stellar, a new model with the brand name of engine power 1597cc in 1982. In 1985, Hyundai Motors released the Sonata model with an engine power of 2000cc and later in 1990 the company produced Elantra model that had an engine power of 1800cc. According to Lansbury, the impressive features of the excel model enabled Hyundai motors to penetrate and market its cars in America by 1986. The performance of Excel in the America n market made Hyundai Motors to clinch position three among the best performing foreign companies in America. The partnership between Hyundai motors and Mitsubishi Motors provided Hyundai with the more technological know-how that assisted Hyundai to increase the rate and volume of production thus keeping the company top of other car manufacturers in Korea. In the view of Lansbury, the association with Mitsubishi enabled Hyundai motors to gather managerial skills that helped in boosting production volumes.