Hyundai Surpasses Other Auto Brands to Hold the Top Position in China
Published By : 15 Apr 2015 | Published By : QYRESEARCH
Hyundai Motor has surpassed General Motors Company’s Buick and Volkswagen AG by earning the topmost place in China’s mass market automotive brands.
Hyundai was tagged the mass-market, top-ranked automotive brand in a consumer survey which was conducted by the Chinese state. This survey was based by conducting interviews with around 11,500 Chinese auto buyers in 30 different cities of China. The Ministry of Industry and Information Technology in China had financed the mentioned the survey.
In spite of troubled supply of inventory in the first quarter of this year, the South Korean auto manufacturer managed to bear the heavy weights of the automotive market.
According to the outcomes of the survey, BYD Co. attained the top position in the Chinese auto manufacturers in the China Brand Power Index, leaving Ford Motor Company and Toyota Motor Corp behind. The index is currently in its fifth year that also takes in loop food, household items, financial services, and other sectors. In addition, Volkswagen’s Audi was also ranked as number one in the category of luxury auto.
There are almost 70 auto manufacturing brands who market their products in the Chinese industry. The Chinese automobile market includes millions of first-time auto buyers, who have a huge variety of auto brands to select from. Hyundai is also looking forward to boost its production capacities at its plants so that it can supply a larger quantity than it had supplied in the first quarter of this year.
In addition, consumers have lodged many complaints in regards with the engine-oil leaking trouble in the models of Volkswagen. The China Central Television has reported that the German-based Volkswagen have not paid any attention to these complaints. However, the company has admitted their fault and has also apologized to its customers.