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Based upon extensive fieldwork in India and Korea, this book is a detailed account of the globalization of the Korean automobile industry and Hyundai Motor Company, one of the most prominent of the new Korean multinational corporations.
In 1962, South Korea assembled just 1,100 new automobiles. By 1996, this total had soared to 2,812,714. What explains this remarkable growth? The answer is complex, and involves a combination of a supportive State, timely technology alliances, a skilled but historically low-paid workforce, aggressive pricing, savvy entrepreneurs, and fortuitous circumstances. Despite this amazing ascent, comparatively little has been written about the Korean auto industry in English. In the first of a two-volume set, this 11-chapter book seeks to help fill this void by providing in-depth examinations of all six of Korea’s automakers from their beginnings through 1996. Uniquely written from the perspective of industry analysts at the time (without knowledge of the Asian Fiscal Crisis), the book should prove informative to practitioners, scholars, and students interested in automotive history, international political economy, Asian studies, and more.
Master's Thesis from the year 2012 in the subject Business economics - Miscellaneous, grade: 1,2, Berlin School of Economics and Law, language: English, abstract: This thesis seeks to contribute to the discussion on latecomer firms by gaining insights into the catch up processes of five automobile companies in the passenger car segment, namely BYD (PRC), Chery (PRC), Geely (PRC), Tata Motors (India) and Mahindra & Mahindra (India). Based on learning theories and the core processes of automobile manufacturers, the thesis develops a catch up framework to systematically compare automobile latecomers. Korean automobile manufacturer Hyundai serves as an example for successful catch up and provides a contextual framing for catch up processes in the automobile sector. An analysis of empirical data provides evidence for the evaluation of the catch up status of the five challenger firms. The author emphasizes the influence of institutional settings in China and India and the role of business groups which both can act as facilitators for the catch up process. Finally, the thesis clusters the catch up strategies of the five observed companies in order to compare their approach. The results indicate that the observed automobile latecomers have not achieved a sophistication level comparable to incumbents in terms of capabilities. However, opportunities to accelerate the capability building process exist. Latecomers can leapfrog through partnering, acquisitions or changing the rules of the game in the industry.
The automotive industry is still one of the world's largest manufacturing sectors, but it suffers from being very technology-focused as well as being relatively short-term focused. There is little emphasis within the industry and its consultancy and analyst supply network on the broader social and economic impacts of automobility and of the sector that provides it. The Global Automotive Industry addresses this need and is a first port of call for any academic, official or consultant wanting an overview of the state of the industry. An international team of specialist researchers, both from academia and business, review and analyse the key issues that make vehicle manufacturing still the world’s premier manufacturing sector, closely tied in with the fortunes of both established and newly emerging economies. In doing so, it covers issues related to manufacturing, both established practices as well as new developments; issues relating to distribution, marketing and retail, vehicle technologies and regulatory trends; and, crucially, labour practices and the people who build cars. In all this it explains both how the current situation arose and also likely future trajectories both in terms of social and regulatory trends, as the technological, marketing and labour practice responses to those, leading in many cases to the development of new business models. Key features Provides a global overview of the automotive industry, covering its current state and considering future challenges Contains contributions from international specialists in the automotive sector Presents current research and sets this in an historical and broader industry context Covers threats to the industry, including globalization, economic and environmental sustainability The Global Automotive Industry is a must-have reference for researchers and practitioners in the automotive industry and is an excellent source of information for business schools, governments, and graduate and undergraduate students in automotive engineering.
The automobile sector is one of the most archetypal global industries and is seen by many as one of the main drivers behind the homogenisation of world markets due to firms' internationalization strategies and the social practices that firms impose. This book argues that this is not entirely the case due to the heterogeneity of firms and the diversity of strategies pursued. It highlights the diversity and forms of internationalization and the preference for regionalization rather than globalization that has occurred over the past decade. This book looks specifically at the American and Asian car industry.
This volume chronicles the maturation of the South Korean auto industry and its native automakers, from the 1997 Asian Crisis to 2019. After examining the context for domestic vehicle production in South Korea, the author presents multiple case studies for all five Korean automakers: General Motors Korea/Daewoo Motors, Kia, Hyundai, Ssangyong and Renault Samsung. This includes coverage of Hyundai-Kia’s foreign plants in North America, Europe, India, China, and Emerging Asia. The book closes by assessing the five-to-ten-year future outlooks for Korean automakers at home and abroad. This important work will prove informative to scholars of business, management, automotive history, international development, Asian studies, and public administration.
Analysing developments in digital technologies and institutional changes, this book provides an overview of the current frenetic state of transformation within the global automobile industry. An ongoing transition brought about by the relocation of marketing, design and production centres to emerging economies, and experimentation with new mobility systems such as electrical, autonomous vehicles, this process poses the question as to how original equipment manufacturers (OEMs) and newcomers can remain competitive and ensure sustainability. With contributions from specialists in the automobile sector, this collection examines the shifts in power and geographical location occurring in the industry, and outlines the key role that public policy has in generating innovation in entrepreneurial states. Offering useful insights into the challenges facing emerging economies in their attempts to grow within the automobile industry, this book will provide valuable reading for those researching internationalization and emerging markets, business strategy and more specifically, the automotive industry.
Global Automobile Demand is a two-volume work analysing the impact of the Great Recession and the structural factors which shape automobile demand in developed and emerging countries. The first volume of Global Automobile Demand examines the automobile demand in mature economies: the USA, the UK, France, Germany, Spain, Japan and Korea.