Hyundai has always been considered (though not really been) something of a second class citizen in the automotive world compared to Toyota and Honda.  A producer of small, inexpensive knockoffs is a charge leveled at Hyundai so often it might be mistaken for a branding strategy.  Even its latest offering the large luxury sedan called the Equus has been questioned all over by that deafening, infinite-headed beast known as the blogosphere, as to whether it can truly compete with the Lexus LS460 and the Mercedes S-Class.  For starters, by pricing it much less (it’ll come in around the mid-$50,000 price tag), doesn’t that diminish an aspect of its luxury appeal?  Guess we’ll soon find out, as the Equus is due to go on sale this fall. 

But getting back to Hyundai’s brand perception, this idea of inferiority has seemed to be a prevailing one among the press and citizenry alike, and yet someone out there must be thinking the brand’s doing good work (besides new and used Hyundai Chicago dealers, of course).  In case you missed it, Hyundai is the world’s fastest growing automaker.  According to the L.A. Times, the Korean automaker’s profit was $1.37 billion for the first quarter of this year, its best quarter ever.  It boasted strong sales in India and China—China, you might recall, recently overtook the US as the biggest automobile market in the world.  Yes, from Beijing to Kashmir new Elantras and Accents are flying off the lots; from L.A. to Chicago, used Sonata and Santa Fe models are being driven down every block.

There hasn’t been a better time in Hyundai’s history than right now and its executives sense it.  There is blood in the water.  Hyundai is taking direct aim at the auto leaders (i.e., Toyota) to become the number one automotive brand in the world—the Equus being put into direct competition against the LS460 is no coincidence.  Hyundai, due in part to Toyota’s struggles with identity and perception over the past few months, recently earned the #1 spot in brand loyalty according to Kelley Blue Book marketing intelligence data.  That means those who sell their used Hyundai in Chicago or anywhere else in the U.S. are likelier to buy within the brand (56.3%) than those owning and selling Toyotas, Hondas, etc.

So, yes, it’s good to be Hyundai right now, whether in Beijing or Chicago.  Used Sonata and Elantra dealers are saying the same thing, as are new Accent and Genesis dealers.  Everyone should be feeling good about Hyundai.  Everyone, that is, except their competitors.