Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Hyundai Czech’s mate

10 April 2006
Immediate Release

Hyundai Czech’s mate

With sales now exceeding 3.5 million vehicles per year globally, Hyundai have just agreed to build their latest factory in the Czech Republic.

Ambitious growth plans for the South Korean company have it targeting sales to six million a year by 2010, putting it ahead of traditional giants Daimler Chrysler, Nissan/Renault and VW-Audi group.

Hyundai New Zealand managing director Philip Eustace said the latest factory announcement represents a crystallising of the company’s global strategy.

“No longer is Hyundai viewed as the poor cousin to other global brands, rather than following it is setting the pace in expansion and innovation. Even down in this part of the world we benefit from that,” said Mr Eustace.

The company’s recent announcement of its new genuine parts pricing policy is evidence of the economics that follow globalisation he said.

A standardisation of the company’s genuine parts pricing has meant prices for genuine parts are the same across the company’s model range, resulting in significant cost savings for the Hyundai consumer.

Hyundai are now positioned seventh in the world, ahead of Honda, Mitsubishi and Mazda. Another new plant, in Alabama, USA is running at full capacity and will produce 300,000 cars for 2006, its first year of production.

Preparation work begins in the middle of this year on the Czech factory with production beginning in October 2008.

Producing up to 300,000 cars and 600,000 transmissions, the new plant’s impact on the Czech economy will be significant, and is predicted to raise its GDP by 1.5 percent in stage one and 2.5 percent in stage two.

End

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news