August 26, 2004

Hyundai exports 10 millionth vehicle

Seoul, South Korea – Hyundai Motor Company celebrated the export of its 10 millionth vehicle in a ceremony held at the Ulsan plant’s Pre-Delivery Inspection Centre.

It took Hyundai Motor Company 22 years to pass the five million export milestone, which was reached in 1998. But the second five million was realized in just 5 1/2 years.

The number of export markets have grown in step with the increase in exports: In 1980, Hyundai vehicles were sold in just 38 countries but the number has grown to 193 with Iraq, Afghanistan and Tunisia accounting for the most recent additions. At the same time, the worldwide total of dealers has surpassed 5000 while new export bases have been established through Hyundai Motor Co. subsidiaries in India and Turkey, which now serve markets worldwide.

By far, the most popular Hyundai export model has been the Accent which accounted for 2.1 million of the 10 million total followed by Elantra which in its three iterations made up some 1.72 million units of the total. Since 2000, Hyundai has seen a steady increase in the overseas demand for higher value added vehicles such as the Sonata and Santa Fe, vehicles, which have helped, enhance profitability as well as upgrade the brand image of Hyundai.

“Last year, for the very first time Hyundai Motor Company saw it overseas sales break past the one million per annum mark, a feat which is second only to Toyota in terms of volume,” Hyundai Motor Company Vice Chairman and CEO Kim Dong-Jin explained. “Today, Hyundai Motor Company employs, directly and indirectly, some one million people worldwide and conducts business with nearly 2000 local and overseas suppliers”.

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