As the severity of the coronavirus outbreak was coming into focus mid-March with a plunging stock market and a national emergency declaration from the White House, Hyundai Motor America CEO Jose Muñoz and his top executives were trying to get in front of the wave about to crash down on the U.S. auto industry.
Muñoz, who was closely watching the disruption in Hyundai Motor Group's home market of South Korea and in China, wanted to move quickly and aggressively to support dealers and customers in the U.S. with the relaunch of the automaker's job-loss protection program for new buyers — first seen during the Great Recession. But not everyone was on board.
Muñoz stuck with the plan. That and other moves by Hyundai and its corporate siblings Genesis and Kia mark a line in the sand for the surging Hyundai Motor Group. After gaining market share and industry awards in recent years, the group is willing to spend to defend its gains and position itse…