Hyundai Racks Up Record Profits As Japanese Wonder Where It All Went Wrong

Hyunai Motor Co. beat forecasts with a record quarterly profit as government incentives fueled strong global sales of its cheap, fuel-efficient models, setting the bar impossibly high for its struggling Japanese rivals.

Hyundai's tripling in third quarter net profit comes as the global industry struggles to emerge from an unprecedented downturn that drove Chrysler Group and General Motors Co. to bankruptcy.

Honda Motor Co. is the only major Japanese carmaker expected to post an operating profit in the fiscal first half, the Nikkei business daily reported today.


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kornholio - 10/22/2009 10:18:22 AM

+1 Boost

Maybe its time for Comrade Obama to propose import tarriffs on Korean cars and parts to recoup some of the cash for clunkers money that was wasted on them.

kornholio - 10/22/2009 10:22:17 AM

0 Boost

sorry didn't mean to double post

kornholio - 10/22/2009 10:19:01 AM

+4 Boost

Maybe its time for Comrade Obama to propose higher import tarriffs on Korean cars and parts to recoup some of the cash for clunkers money that was wasted on them.

Agent009 - 10/22/2009 10:38:35 AM

+1 Boost

LOL! Well they are moving for total domination of the market.. Times are a changing, we all just need to see the light.

KKO84 - 10/22/2009 11:25:31 AM

+1 Boost

I heard that Hyundai has ownership or subsidiary or something in a steel manufacturer so they get their steel for their cars at a much lower price which in turn translates to a lower car price? Also another thing was that they used a slightly thicker sheet metal...albeit it could be .01 mm thicker or something but translates to a more sturdy steel.

Then again, it could all be hearsay and rumors.

thstone - 10/22/2009 2:03:57 PM

+1 Boost

When times are tough, people want cheap cars. Its that simple.

BondMI6 - 10/22/2009 2:26:57 PM

+1 Boost

Yes for the "Spies" back in 03' it was all "BMW to dominate the planet"... now apparently the new flavor is Hyundai/Audi.
I still think Yugo has a strong chance at coming back and gaining global market share.