Wednesday, August 24, 2022
Crisis
Kia and Hyundai SUVs are in a crisis. They can spontaneously ignite due to a faulty trailer hitch. South Korean automakers are recalling tens of thousands of the vehicles for repair. The real challenge for the companies is not the fix but the black mark on their reputation with consumers. Who wants to buy a car that can catch fire? This is a barrier to purchase that the companies and dealers must overcome. They must watch sales over the coming weeks and months and determine whether the crisis has hurt business. If so, they need to reach into their bag of marketing tricks to reignite interest in the vehicles. It is not easy when a car gets a bad reputation. Sometimes the choice is to withdraw it from the market and start over with a new brand. We'll know soon enough what the manufacturers want to do.
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