SAN FRANCISCO -- To Emain Kadrie, chairman of the Phaeton Automotive Group in London, Ontario, the global growth of Hyundai has been little short of astonishing.
Kadrie, who owns three Hyundai stores in Ontario and a Hyundai distributorship in Kuwait, believes the sky is the limit for the Korean carmaker.
"If Hyundai works closely with LG and Samsung (the two leading Korean electronics firms), the Koreans are capable of doing everything," says Kadrie, whose other franchises include two Toyota, two Ford, one Chrysler and one Lexus, all in the London and Toronto areas.
Hyundai has gained ground rapidly and is now challenging Toyota’s supremacy in the Middle East, one of the world’s fastest-growing auto markets, Kadrie says.
"If you want to see competition, go to an unregulated market and see who’s doing what to whom. Hyundai is No. 1 in five (Middles Eastern) markets and Toyota is No. 1 in six. GM is number nine. If you look globally, Hyundai became number four this year."
Hyundai’s meteoric rise in the automotive sphere parallels that of Samsung in the electronics business, he says.
He asks: "Can Hyundai do to Toyota what Samsung did to Sony?"