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Hyundai at risk of collapse?

04/18/2006, 10:35 AM

By admin

A widening corruption investigation into Hyundai could lead the automaker to collapse, according to the Korea Times. On Friday, two people including the former deputy governor of the state-run Korea Development Bank were reportedly taken into custody for having taken bribes to write off bad debt of Hyundai affiliates amounting to some 55 billion won in 2001, the newspaper reports. The report said observers fear “the second largest business group in Korea may be driven into collapse by this investigation on the verge of expanding.”

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04/18, 12:32 PM

posted by:

JCwhitless

Git yer Tiberon now!

04/18, 12:51 PM

posted by:

Joe

Hyundai is one of the worst car brands to buy.
The ride SUCKS.
The handling SUCKS
The design SUCKS
The engine SUCKS
Even the Plastic molding SUCKS.
If you crash in one of these deathtraps, youll definetly die.Way to go Hyundai

04/18, 12:54 PM

posted by:

Tim

I agree with Joe. Hyundai’s are for people who dont care and just want to get from point A to B. Hyundai is definetely gonna collapse

04/18, 1:32 PM

posted by:

Anonymous

Toyota is having a laugh: GM is under investigation by the US and Honeyday by the Koreans.

j i m

04/18, 4:07 PM

posted by:

moody

Actually, the engine and the design are good. The interior design and the seats are awful, as is the suspension, but the exterior design is generally quite good. I’m basing this on the Sonata. I’m also not sure that they’re as ridiculously unsafe as you make them out to be, Joe.

04/18, 4:22 PM

posted by:

Chris G

It’s too bad. They were actually beginning to make good vehicles that were surpassing the Japanese products in J.D. Power studies. I doubt the company would go down, though.

04/18, 6:09 PM

posted by:

Sam

The South Korean government is not stupid enough to get rid of Hyundai. Doing that will destroy their own economy. They’ll just arrest some folks here and there, execute a few maybe, and all is well afterwards.

04/18, 6:55 PM

posted by:

Kendall Richardson

the “modern” hyundai does NOT suck, speccially the ‘06tiburan and the ‘06 Sonatta wit it’s perky 220hp 3.3V6 u haters

04/18, 7:05 PM

posted by:

StanFord

I’d take a Hyundai over a Kia ‘pos’ any day but my heart cries out – Daewooooooo… ;)

04/18, 8:13 PM

posted by:

thommy

Funny, StanBlueOval……..Hyundai owns KIA

04/18, 10:46 PM

posted by:

dillNUTZ

learn how to read thommy

04/18, 11:03 PM

posted by:

manny

hyundais were getting better, but this is still awesome news…

04/19, 6:56 AM

posted by:

canut4ever

I think this will only be a minor setback to the company. As Sam had said, the Korean government will step in and put a quick end to this minor crisis. I suggest to Joe that he take a better look at a modern Hyundai like the current Sonata. At least this Sonata is better overall than the Chevy Malibu.

04/19, 9:52 AM

posted by:

MannyC

Wow Joe, I sense some hate. And I would say it safe to assume u have never owned nor driven a Hyundai. They actually are making better quality cars than Honda. I would take the Sonata over a spaceship looking accord anyday. Honda has used more plastic in civc and accord than Hyundai in the Elantra and Sonata. Remember, that when honda started out they had the same Stigma that Hyundai DID have, with exception of u and a few other closed minded people.

04/19, 10:55 AM

posted by:

TW

Correct MannyC. The first Toyotas and Hondas had a lot to be desired.
Some people have short memories, or no sense of history.

04/19, 12:45 PM

posted by:

BT

I’d rather own a Honda because it was built by an American. And I can count on my warranty for all 36,000 miles, not until the company collapses.

Korean quality improved… but not enough to surpass what Toyota and Honda have created in the average consumers mind.

04/19, 2:37 PM

posted by:

Phil McCrackin

Sonatas and the new Santa Fes are biult in America.
Not all Hondas are built in America.

Some Hondas are built in Japan.
Some Hondas are built in America.

Some Hyundais are built in Korea.
Some Hyundais are built in America.

04/19, 2:42 PM

posted by:

junkie

Considering Hyundai direclty or indirectly employs 30% of the South Korean population, and Hyundai/Kia control 75% of their new-car market, methinks the company will not collapse.

Collapse isn’t even noted in any of the mainstream news articles that I’ve read, so it’s not clear where this implication comes from.

04/19, 4:37 PM

posted by:

Agent 001

Use some common sense dillNUTZ.

Stan”FORD” the logo is a BLUE OVAL.

cuz obviously he hates ford and doesnt want to type it.

04/19, 5:53 PM

posted by:

Jay

I think news of Hyundai’s impending demise are greatly exaggerated. These are just words of some observers, which are usually inaccurate and probably directly referred to because of the “doom and gloom” prediction. If GM hasn’t gone under by now given all the problems it’s had, I highly doubt Hyundai would completely go under. Hyundai is a mind-bogglingly huge company and it isn’t going to simply disappear. Some fines paid here, some executives prosecuted here, some reorganization there, and all is well again.

As far as the cars themselves, anyone who thinks they’re garbage obviously hasn’t been in one in the last 10 years. The safety is vastly improved (the new Hyundai Entourage/Kia Sedona, for example, earned the IIHS’s highest-ever safety rating in the minivan segment, and many of their other redesigned models are scoring excellent marks). The fuel economy has gotten on par with their competition. They’ve developed some good strong powerplants, and they’ve gotten a good handle on design inside and out. All of this happens while they still undercut the competition on price. Hyundai still has some improvement to make to catch Toyota and Honda and further develop their own identity, but they’re on their way and doing so in less time than it took Toyota and Honda to do so. Like Manny and TW said, Toyota and Honda cars were junk in the 50’s and 60’s…it wasn’t until the late 70’s that they focused on quality and began acquiring their well-earned reputation.

04/27, 7:25 PM

posted by:

JeepGod

This is the same way the American public bashed Toyota, and Honda in the 70’s. Buying american brand cars/ trucks isn’t always a great thing these days. I personally owned both Japan and American cars/trucks in the past. I have spent less and had less problems with imports, than any of the american cars I’ve owned. I have no problem with being loyal to american made products, just make sure your american manufactures are not using it against you. I worked in the automotive field in the past, and have found some really bad quality in Fords,GM,Dodge, and even Toyotas too.I am on my 2nd Hyundai Elantra and have no major issues with either car(understand they are not a Lexus, but have come a long way since the changes in 2001). The reason they can offer the 10yr 100,000 mile thing is improvement in quality control. I do also own a 04′ Dakota 4X4,74′ Jeep CJ5, and a 05′ Stingray 18′ bowrider boat(so I do buy american 90% of the time). The Hyundai is the only import in my driveway, but I don’t hold it against it.

08/30, 10:47 PM

posted by:

Arthur Grant

The article is a little dated. As for Toyota laughing its senior leadership has been publically flogged by the Japanese government for quality failures leading to loss of life, massive recalls rivaling any in Detroit and with threats of possible crimal prosecution. The Chairman of Toyota has publically apologized.

As for Hyundai it depends on the year and model you drive. The accent is what it cheap car with the suspension of a grocery cart. The Elantra is much better and so up the line. I have owned 3 Hyundai’s all purchased new and have had mixed success but my most recent has been very good and the warranty service that was required was handled well.

To put this in perspective I am a multi Mercedes Benz owner (currently a 300E), have Toyota’s and Volkswagens in the current fleet has well. I might mention I spent 5 years as a journalist covering the automotvie scene, and still cover motorsports (Sony HD 500 this weekend).

Is the Hyundai a Lexus NO!. Is better than a Toyota Corolla or Camry YES. Not only on cost but ride and quality. Wnen you back a car 100,000 miles you need to build it well or expect the out year costs to eat you alive. Hyundai is profitable.

I suggest really going out and driving the cars. I am on a number of list and get invited to drive about 100 cars per year. Everybody targets Mercedes owners. If your not expecting a race car the Hyudai’s are hard to beat.

09/05, 9:11 PM

posted by:

Korean Cars

Honda is build in Korea t and Hyundai is build in Japan

09/05, 9:11 PM

posted by:

Korean Cars

*to

09/05, 9:12 PM

posted by:

Korean Cars

also Joe your gay

 
 
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