Hyundai cars
The Hyundai Motor Company is located in South Korea. Thanks to The America largesse the Hyundai auto car industry is one of the industries that have flourished after the 1950-53 Korean War. It?s a division of the Hyundai Kia Automotive Group and is the largest auto manufacturer in South Korea. The growth of the company is phenomenal and in 2005 it had reached its pinnacle and became the world?s sixth largest vehicle manufacturer in terms of auto sales. The Hyundai plant in Ulsanthe Company operates one of the world?s largest plants with a production capacity of nearly 1.6 million car units annually. The Hyundai logo like the Mercedes which has a star consists of a stylized H. This has now become a famous trade sign all over the world.
The founding father of the company was Chung Ju Yung (1915-2001). It?s hard to believe that Chung had only primary school education and was a self made man. He toiled as a laborer and then worked in a rice mill before he opened his own small auto garage. By his entrepreneurship he built the Hyundai Company into a massive monolith. The massive company was split up from the 1980s into many satellite groups. However Chung Ju Yung will be remembered for his development of the Hyundai auto. He will also be remembered for the Pony, which has a distinction as a first Korean car that caught the imagination of the world.
Hyundai made its entry in the US market in 1986. They started by marketing lower end budget cars like the Excel which was nominated as a Best product in its category by Fortune magazine. However the company had set its horizon higher and soon launched the Sonata in 1988 along with other models.
But over the decades Hyundai remained a utilitarian product and its image as a maker of luxury cars was non existent. In 1998, Hyundai started its first attempt to overhaul its image and establish itself as a world-class brand. A year later in 1999 Chung Jug Yung transferred leadership of Hyundai Motor to his son; Chung Mong Koo.Hyundai now started an aggressive campaign to change its image. One of the innovations was a 100,000 miles or 10 year warranty, something not offered by other car manufacturers.
This campaign had its effect and in 2004, JD power associates ranked it no 2 in terms of its initial quality. Its aggressive campaign to be in public mind led it to be the official sponsor of the FIFA World Cup in 2002.
Despite some legal problems at home in Korea the company continued to surge forward with sales of $57.2 billion in South Korea. Sales world wide of Hyundai cars and autos touched over 2.5 million.HYUNDAI motor vehicles are sold in 193 countries through around the world from such diverse countries like India to Australia and United States to Europe. A recent survey has placed Hyundai as the sixth largest automaker in the world. Hyundai entered the United States market in 1986 with only one model. But their present sale of 126000 vehicles is a far cry from its modest beginning.
But with the passage of time, Hyundai has positioned itself among the top car manufacturers in the world. The company has made good use of its earlier experience and revamped its products. In 20 years, both quality and sales have improved beyond measure. The reputation of Hyundai cars for reliability and build has also improved in the public perception. This was because of the realization of the Hyundai top management to invest in America to gain the local confidence. The result is there for all to see as Hyundai cars growing in popularity. The Hyundai Design Center set up in 1990 in Fountain Valley, California was a step in the right direction. The complex has a state of art facilities including an oval race track of 6.4miles along with 30,000-square-foot complex featuring offices and indoor testing areas. Hyundai spent more than 50 million dollars on this set up.
Hyundai has gone about its American investments with full speed and gusto. Hyundai to make its products more acceptable has set up its car manufacturing units just outside Montgomery, Alabama in 2004.This plant employs 200 workers and assembles the Hyundai Sonata and the Hyundai Santa Fe.
Hyundai?s investments in the United States and its aggressive marketing of its cars with improvement in finish and engineering have had its results. In 2006 JD Power and associates ranked the Hyundai brand 3rd in over all ranking J.D. Power and Associates has been conducting quality and customer satisfaction research based on survey responses from millions of consumers worldwide since 1968.They bear a respected name in the auto world. J.D. Power and Associates has the distinction of having developed at comprehensive data base of customer satisfaction.They cover all aspects like shopping, buying, and ownership experiences
Hyundai was rated only marginally behind Porsche and Lexus. It finished ahead of Toyota. The brand overall has a higher ranking and resale of its products good. Hyundai Sonata the flagship of the Hyundai Company costs just $2200 below a similarly equipped Honda Accord. Hyundai's has a grand plan to sell one million cars in the United States. This will help it carve out a larger share of the U.S. market.
This year Hyundai has launched its first true luxury vehicle The Azera. The car is rated highly. In 2008 Hyundai Equus will be part of a strategy for Hyundai-Kia to further strengthen its foothold. While the Equus will probably compete directly with the cream of European luxury sedans. The 2008 Equus could even act as a spearhead for the creation of a brand-new Hyundai-Kia image. Hyundai has built the Equus in Korea for some time now. To appeal to American customers Huyndai could launch a 300 horse power version that will be value for money and compete with the best in the car market. Hyundai has come a long way from humble begining and the future appears bright.
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