Hyundai

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The Hyundai Motor Company is a multinational automotive producer South Korea’s capital Seoul, Korea South. The company was founded in 1967 and, with its 32.8% subsidiary owned, Kia Motors, together comprise the Hyundai Motor Group, which is based automaker annual vehicle sales in 2012, in 2008 the fifth largest in the world, Hyundai Motor (without Kia) ranked as It is the eighth largest automaker. As of 2012, the Company sold than 4.4 million vehicles worldwide in that year, and the Kia sales were 7.12 million.Hyundai is currently the fourth-largest car maker in the world. Hyundai is working on a integrated manufacturing Facility in the world’s largest Ulsan, Korea South, which has an annual production capacity of 1.6 million units of. The company employs 75,000 people worldwide. Hyundai vehicles are sold in 193 by dealerships and some 6,000 showrooms. In 1984, Hyundai exported the Pony to Canada, but not in the United States, because the Pony did not pass emissions standards. Of Canadian greatly exceeded expectations, and was at one time a top-selling Canadian market.

In 1985, the one million Hyundai car was built.In 1986, Hyundai began selling cars in the United States, and the Excel was nominated as “Best Product # 10” by Fortune magazine, especially because of its affordability. The company began to produce models with its technology in 1988, from the Sonata midsize. In the spring of 1990, the aggregate production of Hyundai cars reached the four million mark. In 1991, the company succeeded in developing proprietary in its first gasoline engine, the four-cylinder Alpha, and its transmission, thus paving the way technological independence.In 1996, Hyundai Motor India Limited establishment of a production plant in Irungattukottai near Chennai, India. In 1998, Hyundai began to repair its image in an effort to establish itself as a brand-high. Chung Ju Yung transferred leadership of Hyundai Motor to his son, Chung Mong koo, in 1999 the company Hyundai’s parent, Hyundai Motor Group, invested in quality, design, manufacturing, and long-term research of its vehicles. It added a 10-year or 100,000-mile (160,000 km) warranty to cars sold in the United States and launched an aggressive sales campaign.

In 2004, Hyundai was ranked second ‘quality first’ in a survey / study by JD Power and Associates. Now Hyundai is one of the 100 most valuable brand on earth. Since 2002, Hyundai has been one of the official sponsors around the world FIFA World Cup. In 2006, the government of South Korea who started the investigation into the practices of Chung Mong koo as head of Hyundai, suspecting him of corruption. On 28 April 2006, was arrested Chung, and charged with embezzlement of Won 100 billion South Korea ($ 106 million). As a result, Hyundai Vice Chairman and CEO, Kim Dong-jin, replaced him as head of the company. On 30 September 2011, Yang Seung Suk announced his retirement as CEO of Hyundai Motor Co. In the interim period to, Chung Mong-koo Kim Eok-jo separate the functions of the position of CEO.

In 1998, after Shake-up in the Korean motorized caused by overambitious expansion and the financial crisis in Asia, Hyundai acquired rival Kia Motors. In 2000, the company established strategic relationship with Daimler Chrysler and severed its partnership with the Hyundai Group. In 2001, a Daimler Hyundai Truck Corporation. However, in 2004, Daimler Chrysler divested its interest in the company by selling its 10.5% stake for $ 900 million.

Hyundai has invested in manufacturing plants in the North America, India, the Czech Republic, Russia, China and Turkey as well as research and development centers in Europe, Asia, North America and the Pacific Rim. In 2004, Hyundai Motor Company had $ 57.2 billion in sales in South Korea making it the world’s largest corporation, or chaebol. Sales in 2005 reached 2,533,695 units, an increase of 11 percent over the previous year. In 2011, Hyundai sold 4.05 million vehicles worldwide and Hyundai Motor Group was the fourth-largest automaker in the world after GM, Volkswagen and Toyota – the difference it earned when it surpassed Ford Auto Group in 2009 Hyundai vehicles are sold in 193 through some 5,000 dealerships.

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