Hyundai Motor Company has gone from very bare beginnings to positioning itself as one of the most innovative and advanced car manufacturers in the world. During the 1980s, when the economical vehicles entered the North American market, they filled a huge hole in car sales. Students, families on tight budgets, and those worried about conserving fuel were not interested in big, expensive cars. Thus, the Hyundai Pony and Excel were a perfect fit. And although many people laughed at the little Korean cars, today Hyundai has reason to be proud of its accomplishments.
Founded in 1967 by brothers Chung Ju Yung and Chung Se Yung, the Hyundai Motor Company was a subsidiary of conglomerate The Hyundai Group controlled by Ju Yung. Se Yung was the first CEO of the car company, remaining with the company until he was ousted in 1999 by Ju Yung in favor of the older brother’s son. Many Westerners mistakenly attribute the success of Hyundai Motor to Ju-Yung, but Korean documentation, in the way of newspapers and obituaries, clearly indicates that Se-Yung was the driving force behind the brand. He was, in fact, the initiator of the original licensing agreement with Ford and subsequently, for the rest of his life, was affectionately known as “Pony Chung” or more formally “Chairman Chung”.
Most notably, customers are the top priority at Hyundai. Not merely as purchasers of the vehicles, but as a reward to the employees and management for a job well done. In fact, customer service and satisfaction are hallmarks of the Hyundai philosophy. While many companies claim their customers are the main focus of their businesses, most fail miserably at this basic concept. Hyundai, on the other hand, has built a worldwide reputation of listening and responding to their customers, as well as honing every detail of their cars. Some examples of their methods include:
- the best warranty in the new car industry,
- road tests performed on every vehicle that comes out of the factory in order to eliminate any quirks and squeaks that should not be there,
- and good value for the best possible price.
Achievements and Milestones in Hyundai’s History:
- 1968 Signed an agreement with Ford to assemble their cars, specifically the Cortina and the Granada sold in the South Korean market. Taking this agreement seriously, Hyundai was aggressive in their approach by being the first of any Ford assembly plant to build the plant and start production within a six month time frame.
- 1974 Pony was released. Although this was the first real Hyundai car, it was built upon a combination of technologies including Mitsubishi and Ford. Many people referred to the car as Japanese because of the Mitsubishi connection.
- 1983 Entered the Canadian marketplace with Pony. Sales were phenomenal and the Pony came to be the highest selling car in Canada in 1984.
- 1986 Entered American marketplace with the Excel. Record sales were enjoyed with over one hundred thousand sold in less than a year.
- 1998 Company purchased Kia, giving Hyundai over seventy percent of the domestic Korean market share.
- 2009 TAU 4.6 engine found in the Genesis won Wardsauto’s 2009 10 Best Engines.
- 2009 Genesis won Canadian Car of the Year in the “under fifty thousand dollar luxury car” category.
- 2009 Included in North American Car of the Year Top 100 Global Brands in 2008 for the fourth year in a row.
- Produced the S–Engine, available in the Veracruz, and reputed to be the world’s highest quality V6 engine.
- Presently boasts manufacturing plants in South Korea, China, India,Turkey, Czech Republic, USA, and soon-to-be-completed Russia. The main plant in Ulsan, South Korea is formidable indeed. It is the largest automotive production facility in the world with five individual factories, thirty-four thousand employees, its own port where three ships can dock at the same time, its own fire station, hospital and patrol cars. Lastly, it is known for its advanced manufacturing techniques that help to make the plant and company environmentally friendly.
Models and Years Released:
- 1968 Ford Cortina and Granada
- 1974 Pony
- 1985 Stellar
- 1986 Excel
- 1986 Grandeur
- 1987 Sonata
- 1991 Scoupe
- 1995 Accent
- 1992 Elantra
- 1997 Tiburon
- 1997 Starex Van – also known as i800 and H-200
- 2000 XG300
- 2001 XG350
- 2001 Santa Fe
- 2001 Matrix Hatchback
- 2002 Click or Getz
- 2003 Equus
- 2004 Tucson SUV
- 2006 Azera
- 2007 i10 Hatchback
- 2007 i30cw
- 2007 Entourage Minivan
- 2007 Elantra Touring Beach Cruiser Concept
- 2007 Veracruz
- 2008 i20
- 2009 Genesis
- 2009 Genesis Coupe