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Hyundai

Hyundai today is a name backed by automobile industry’s top journalists. Being a Korean automaker it is comparatively new in American market. The products of Hyundai have seen a steady development. Hyundai cars and SUVs are known to provide a sense of contentment and are available for local market at reasonable price.

A few months after Hyundai civil engineering Company was started by Chung Ju Yung, the unit was bombed in the Korean War. Even after the disastrous begin in 1947, the company was able to rise to a level where it stood as the leading Korean construction enterprises by 1950.

Against the pre notion of the Korean government that it was more inclined to import vehicles than to produce locally, Chung by late 1960s diverted his attention to the automobile industry and followed his own mind. This resulted in the establishment of the Hyundai Motor Company in 1967 by Chung.

After signing two years deal, it entered into an alliance with one of the industry’s oldest automakers Ford in 1968, it shared assembly technology with them. The result of the deal was Hyundai’s first car, the Cortina. Hyundai’s first car designed in Korea was compact Pony which was based on the Mitsubishi’s Japanese technology. The vehicle was launched in the market in 1974 and from the next year onwards the company started exporting it overseas.

With the introduction of subcompact Excel, Hyundai made its entry into the American market in 1986. With its affordable price the car turned out to be a success to the Hyundai resulting in the sale of 100,000 Excels in the first seven months. By 1988, Hyundai started to use its own technology to manufacture cars and the midsize Sonata was the first result of this effort.

The backdrop was the Hyundai’s nascent image and poor reliability and durability of its vehicles which reduced its sales in the market. In such a state Hyundai invested in new product designs and improvements in quality and reliability rather than leaving the American market in the 90s.

The new millennium brought in an increase in the class and performance and overall appeal of the Hyundai cars which was the result of the new endeavor. All further existing doubts about the quality of its products were erased with its extraordinary long warranty period. Though Hyundai provides fewer products than most of the other companies, it had a rise in economies after the purchase of kia another Korean auto brand in 1998. Present day, a car of great value at low price is what Hyundai is known for.