The Hyundai was initiated in the year of 1967 and it together with Kia alongside include the motor group of Hyundai, which seems to be the world’s 4th largest manufacturer of automobile based on the annual sales of the vehicle in the year 2010. In the year of 2008 the Hyundai not together with Kia ranked in as 8th largest automaker. In the year 2010 the Hyundai sold vehicles about 3.6 million universal.
The Hyundai operates as the world’s largest manufacturing facility of integrated automobile in Ulsan that has the capability to produce over 1.6 million units per year. This company employs near about seventy five thousand persons worldwide. The Hyundai vehicle is sold in more than 190 countries some through six thousand showrooms and dealerships.
Chung Ju Yung had founded Hyundai construction and the engineering company in the year of 1947. The Hyundai motor company later was established in the year of 1967. This company’s first model, Cortina was considered to be released in the cooperation with the Ford motor company during the year 1968. When the Hyundai wanted to build up the car by own they hired the George Turnbull, who is considered to be the former MD of the Austin Morris at the British Leyland. In turn he hired the five other engineers of British cars who are at the top list. They were engineer’s Edward Chapman and the john Simpson, Kenneth Barnett body design, john Crosthwaite as the engineer of chassis and the peter Slater as the company’s chief development engineer. In the year of 1975 the Pony, which is recognized as the first Korean car which was found to be released with the styling by the Giorgio Giugiaro of an ital design and the power train technology which is provided by the Japans Mitsubishi motors. The exports started during the following year to the Ecuador and there after soon to the countries of Benelux.
In the year 1984 the Hyundai exported Pony to Canada and not to the USA because the Pony did not pass the standard emissions there. The Canadian will sales the expectations which would exceed greatly, it was at the one stage, the cars of top selling on Canadian market. Pony afforded greater level of the refinement and the lowest priced quality in the range of auto segment than the imports of eastern bloc present during that period then available. In the year of 1985 one millionth car of Hyundai was built.
In the year 1986 the Hyundai started to sell the cars all across the United States of America and excel was found to be nominated as the ‘best product #10’ by the fortune magazine, due to the fact of its affordability. This company started to produce the models that comprised of their own technology during the year 1988, started with midsize range of cars like Sonata. In 1990, the collective production of the Hyundai automobiles has reached four million marks. Since 1991, the company found to have succeeded for developing its 1st proprietary engine of gasoline with four cylinders, Alpha and comprises of its own transmission thus the way of paving for technological sovereignty. In the year 1986 the Hyundai motor limited was been established with the production plant in the Irungattukottai near the city Chennai.
In the year 1998 the Hyundai started to overhaul the figure in an attempt for establishing itself as the world class product. The Chung Ju Yung the founder of this Hyundai Company has transferred the leadership of the Hyundai motor to his own son Chung Mongo Koo in the year 1999. The Hyundai’s parent company, the Hyundai motor group has invested the heavily in quality, manufacturing, design and the long term research vehicles. It added a 100 thousand mile or ten year or 160 thousand kilo meter warranty to the cars which is sold in the United States and that launched aggressive marketing campaign.
In the year 2004 the Hyundai was ranked 2nd in the “initial quality” in a study or survey by the J.D power and the associates. Now the Hyundai is one of the top hundred most valuable brands in the worldwide. Since 2002 the Hyundai has also been the one of worldwide official sponsors of FIFA world cup.
Government of South Korea started to investigate on Chung Mong Koo in 2006, as he was Hyundai’s head the government started to suspect on his practices. Later on 28/04/2006, he was convicted on corruption charge with law suite of $106 USD. Later Hyundai appointed a new Vice Chairman& CEO, Kim Dong-jin. On 2011 September 30th, Yang Seung Suk gave his retirement for CEO post of Hyundai Motor Co. Later the duties of CEO position were divided by Kim Eok –jo and Chung Mong Koo. This company has 6 centers all over the world. These centers are located in Korea (3 offices), India, Germany, and Japan. In America it has design center in California, so that designs are developed for the markets in US.
In 1998 there was an Asian Financial Crises which affected Auto industries of Korea. By this time took over its rival company Kia Motors and owned it. In 2000, Hyundai and Daimler Chrysler who has partnership with Hyundai Group made a strategic alliance for the company’s establishment. This Daimler Hyundai Truck Corporation was established in 2001. In 2004, Daimler Chrysler sold its 10.5% stock for 900 million USD to divest its company.
The manufacturing plants of Hyundai are in India, North America, Pakistan, Turkey, China and Czech Republic. R&D of this company is located in Asia, Europe, and Pacific Rim. In 2004, this corporation was the second largest in the country so that it made 57.2 billion USD sales all over South Korea. In 2005 it made 11% increases than in 2004, so that the sales reached up to 2533695 units. In 2011, 4.05 million cars were sold by this company all over the world, which makes this 4th largest automaker in the world which is behind Toyota, GM and Volkswagen. The vehicles of Hyundai are sold in 193 countries with 5000 dealership.
The brand of Hyundai became more power full when it ranked 65th by 2007 and the value of this brand is 5 billion USD. This was estimated by Global brands and Business week. Due to the public demand on Hyundai car’s improvements in Hyundai Vehicles increased. In 2011, it became world’s fastest growing car company which is continued till today.
For details, visit Hyundai India's official website.