After one-year of sale, the retail value of the Hyundai Santa Fe was much lower than all these car models from competitors. To make matters worse the resale value gap between the Hyundai Santa Fe car and its competitors such as the car models from Toyota was larger than the quality gap between the car models. The resale value of a car is usually considered as the market’s perception of the quality, worth and value of that specific model. It does not relate to the actual quality of the car in any way. These low ranking of the models from Hyundai models in the markets of developed nations pose a great challenge to the survival of the company in those markets. It seems that the car models from the company are not welcomed in these new territories.In the past Hyundai Company used to rely heavily on Mitsubishi’s technology in the designing and manufacturing of their cars but this is not the case anymore. The company has now established their own structures and designs which are unique and do not emulate the designs from Mitsubishi in way. Many of the customers in markets of the developed countries still have the perception of Mitsubishi cars ranking better than Hyundai models. Hyundai Motor Company Business Challenges and Relationships.
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