Honda’s CEO Takanobu Ito has said he sees Korean manufacturer Hyundai as a huge threat to the future of Japanese automakers.
The Korean firm has seen strong sales growth across the world in the last few years and it is currently the top selling manufacturer in Britain for retail sales.
“Hyundai is awesome,” said Takanobu. “They are undoubtedly a threat because their products are cheap, and the quality is improving.”
Hyundai and its sister firm Kia have been successful across Europe and America in various scrappage incentive schemes. Smaller models such as the i10, i20 and i30 have proved particularly popular.
Takanobu’s comments have also been echoed by designer Shiro Nakamura from Nissan.
“Hyundai is the biggest threat for the Japanese automakers,” he said. “They have the technology, but they seem to have cheaper labour.”