Hyosung 2021. Is The Korean Manufacturer Near The End Of The Travel?

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hyosung-bobber-gv-300-2020
hyosung-bobber-gv-300-2020

Hyosung is an historical Korean Motorcycles brand, well know around the World. Unfortunately, in recent years the sales heavily declined under a new ownership and missing investments in technology and R&D, vertically losing volumes.

Hyosung is a South Korean motorcycles brand, active since the 1978. Headquartered in Changwon, a South East coastal Korean city, it was the leader in the home-country and distributed in 60 countries in the World.

Born as division of a large South Korean conglomerate,  Hyosung motors started building motorbikes for Suzuki back in 1978. In the following years the companies grew up with difficulties and was several time near to bankrupt, due to the rapid erosion of domestic market.

In the 2014, the brand and the operational activities were taken over by KR Motors Company Ltd., a Laos based firm, which tried to revamp sales, without success.

Actually the company sell in an always more restricted range of countries under several different name. and the company is really struggling to survive.

In recent times, Hyosung Motorcycles entered the recreational market. This was interesting because Hyosung Motorcycles tended to be best-known for making simple but cost-effective motorcycles that were well-suited for people who wanted something that would be practical for their commutes.

As a result, the focus on the recreational segment of the motorcycle market was an interesting change-up that produced a lot of changes in the relevant products. Unfortunately, without a great success.

Actually the in Korea they use the “new” name KSR but sales declined at few thousand, while in the export, they still use Hyosung, again with few results.

While trying to understand the strategy behind the brand management we have to admit to not be able to find a logic direction, apart the closing of activities.