I. Market Info
a. In September 2012, Hyundai had sales of 11,403 with YTD sales numbers reaching 107,612. This accounted for a 12.9% Canadian market share to date.
The YTD for September 2012 sales of the electric vehicles available in Canada are as follows: Nissan Leaf – 196 units (up 367% from 2011), Mitsubishi i-MiEV – 165 units , Chevrolet Volt – 927 units (up 548% from 2011).
Of the 1,305,538 cars sold to date in Canada, electric car sales accounted for 0.00099% of total car sales.
According to these numbers, Canadians are not embracing electric cars at a significant rate, however the World Wildlife Fund of Canada is aiming to have 600,000 EV’s on Canadian roads by 2020, accounting for 10% of all car sales. The WWF intends to do this by: * highlight environmental benefits of EVs
* support improved access to EVs and EV infrastructure
* achieve competitive pricing with conventional vehicles * expand travel freedom for EV users with infrastructure and travel partnership options * provide Canadians with positive EV information and experiences Government agencies have also offered incentives for buyers and owners of EV’s for example; the Ontario government is offering a rebate between $5,000 and $8,000 as well as a Green license plate which enables owners to use High-Occupancy Vehicle lanes, even if there is only one person in the vehicle as well as future access to public recharging facilities and parking at GO station and government lots.
b. Brand Profile
Hyundai vehicles run the gamut from budget cars to luxury sedans to commercial trucks. South Korea's leading carmaker, Hyundai Motor produces compact and luxury cars, SUVs, minivans, trucks, buses, and other commercial vehicles. Its cars are sold in 180 countries through some 6,000 dealerships.
Hyundai generates about half of its sales in South Korea, but its vehicles are also popular in emerging markets such as China and India. The company operates a dozen manufacturing plants in China, the Czech Republic, India, Russia, South Korea, Turkey and the US. Hyundai also owns a 34% stake in Kia Motors.
Some key benefits of the Hyundai brand are:
* Modern, premium, affordable mentality towards car design * Hyundai backs their product with an excellent warranty and service. * Heavy investment in design and promotion
* Focus more on explaining a car's history, its value and its strengths, rather than just talking about price
Hyundai’s brand reputation hasn’t always been the greatest and has only increased within the last 5 years or so as Hyundai made the switch from making cheap, economical cars to affordable, modern, premium and reliable cars that are fun to drive, luxurious and backed by an excellent warranty.
Some issues Hyundai faces are:
* Poor reputation in regards to reliability
* Poor reputation in regards to build quality
* Not known for making sporty or luxurious cars
* Overcoming well-established brands such as Toyota, Honda and VW
c. Brand Proposition –
Hyundai’s brand slogan “NEW THINKING. NEW POSSIBILITIES.” reflects the will of Hyundai Motor Company to create new possibilities to benefit the world and its people by encouraging and developing new thinking. All members of Hyundai have the brand slogan deeply engraved in their hearts as they move forward in their effort to provide new values and experiences desired by today’s customers through innovative ways that are unique to the brand, driven by new thinking about customers and cars.
d. Brand Position –
Hyundai’s brand direction “Modern premium” does not just mean luxury cars; it is about providing new values and experiences to yet more customers of today through ways that are unique to the brand and which go beyond what customers expect by combining exceptional performance with reasonable price and emotional elegance.
Being simple but perfect, staying faithful to the...
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