Hyundai exports 10 million

06 August
Immediate release

Hyundai exports 10 million

Hyundai has become just the world's second automaker to export more than 10 million vehicles.

Hyundai Motor Co reached the landmark 28 years after it shipped six Pony hatchbacks to Ecuador in June 1976.

Only Japanese giant Toyota has previously hit the 10 million mark.

Last year Hyundai sold 1,888 vehicles in New Zealand. Year-to-date July, 1,583 vehicles have been sold – 41% up on 2003 and well on track to top 2,500 by the end of the year.

Korea's top carmaker, Hyundai held a ceremony this week at its largest domestic plant to celebrate the shipment of its 10 millionth export; fittingly this is a Tucson, the exciting new SUV which launched in New Zealand at the beginning of this month.

"We will do our best to increase exports by continuing to improve product quality and to develop new technology," Kim Dong-jin, Hyundai's vice chairman and chief executive officer, said in a speech to employees, suppliers and journalists.

"Since Chairman Chung Mong-koo began to run this company in 1999, he has been focusing on improving the quality of our vehicles. Now the efforts are paying off."

It took Hyundai 22 years to export 5 million vehicles but less than six years to double the number.

The brand now exports to 193 countries, compared with 38 in 1980, with more than 5,000 dealerships worldwide.

Hyundai attributes its export performance to small models such as the Getz, Excel, and Elantra subcompacts, which account for nearly 60 percent of its total auto exports. However the company has been increasing its overseas shipment of larger vehicles, including Sonata mid-size sedans and Santa Fe and Terracan SUVs.

Hyundai's strong export performance has boosted the carmaker's position in the domestic economy. This year, Hyundai expects its auto exports to exceed NZ $19 billion, or 5 percent of the Korea's total overseas shipments, to become a major driving engine behind the nation's economic growth.

In addition, the automaker is expected to pull in NZ $17.5 billion in trade surplus, accounting for 55 percent of Korea's total trade surplus estimated at NZ $31.8 billion.

The brand has set a goal of muscling into the top five car-makers in the world by the end of this decade.

It’s on target, with 2003 sales figures topping Honda, Nissan, and Mitsubishi and breathing down the neck of PSA Group, the French concern comprising Peugeot and Citroen.

The top five were General Motors, Toyota Motor, Ford Motor, Volkswagen and DaimlerChrysler.

In 2004, Hyundai Motor Group is aiming for sales of 3.47 million vehicles.

Hyundai is now recognised worldwide as a mass-market leader in safety initiatives, focused on reliability and quality as well a value.

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