subject: Hyundai Built For Speed [print this page] The Hyundai Motor Company is a division with the Hyundai Kia Automotive Group. Its largest production plant can be seen in Ulsan, South Korea and creates over 1.6 million vehicles annually.
Hyundai translates as "modernity" and is pronounced "Hyondae" in Korean. The company logo, a slanted, stylized letter H symbolizes the firm shaking hands with its buyers. Its early beginnings began with Chung Ju-Yung's establishment in the Hyundai Engineering and Construction Company. It was bombed mere months after throughout the Korean war, but the business came on its feet from the 50s to become distinguished as Korea's leading construction enterprise. By 1960, Chung shifted his attention on the auto market and founded the Hyundai Engine Firm in 1967.
It founded an alliance with Ford inside a two-year contract to share assembly technologies. It was then that the partnership with Ford that Hyundai gave birth to its very first car or truck, the Cortina, which made its debut in 1974, and the business started exporting it overseas.
Hyundai entered the US current market with its subcompact Excel type which was an instant hit as a consequence of its cost-effective price tag. By 1988, Hyundai used its own technology to produce its cars, and that is where the Sonata was released. Yet, attributable to poor durability and reliability of its vehicles, the company's image as tarnished and sales hit an all time low. Hyundai didn't abandon the American market despite of this situation. The company then chose to invest in new product designs, high quality and reliability. This decision paid as Hyundai's revenue increased sharply in the next decades. Despite the fact that their lineup is much smaller than other car makers, the firm gains income through Kia, one more Korean automobile brand, which it acquired in 1998. These days, Hyunda is well-known for producing autos that offer quality at very affordable costs.
