The world's sixth biggest carmaker is South Korea's largest---Hyundai Motor Company (HMC). The car brand is a live demonstration of the country's nationalistic support for its own brands. HMC was so distinct because it was able to penetrate the United States and other important global car markets. However, the initiative was not very easy and some embarrassment had to be endured by the company.
HMC was originally founded in Seoul in 1947 as Hyundai Engineering and Construction Company. As a thriving and struggling company, that entity has been reorganised and was transformed into the Hyundai Motor Company that people currently know. As a standalone car maker, HMC was actually not alone in rolling out its first ever car model, known as the Cortina, which was a collaboration with United States-based Ford Motor Company in the year 1968. That time, HMC became prestigious and promising. Little did car aficionados know that the company was up for some major bumps.
HMC cars were recognised in Korea for its cotemporary car designs and comfortable features. Unfortunately, other than that, HMC cars had nothing else to offer to the market. Marketing strategies kept the company's sales increasing and the internal morale upbeat. When HMC penetrated the United States car market in 1986, the company had its major blow, which was actually a wake up call.
HMC introduced its Hyundai Excel car model in the country. Surprisingly, sales for the car model picked up and that year, the company made a record by entering that delicate car market with surprisingly promising sales figures. But because Hyundai Excel was popularly received, it became subject to criticisms.
It was later established and well publicised that HMC's initial offering in the US was a big flop. Most of the buyers of the Excel car were furious when they found out for themselves that the car was of inferior quality. The cars were not performing well and were not really reaching standards in car assembly. Consequently, HMC's sales drastically plummeted.
But that occurrence was taken by the company as a wake up call. After the humiliation it got, HMC strived to do some research and efforts to improve its performance and quality. HMC achieved its goal of producing quality cars. But it took some time before the market forgot about the blunder called Hyundai Excel.
Now, HMC boasts that it has significantly improved the quality of its line-up of car models. Not only that, the Hyundai car models are now more attractively designed than ever. That is translated into higher sales and better reception of the brand and company.
Now, HMC is one of the most reliable car brands and car manufacturers all over the world. When it comes to quality and standards, the company can proudly and safely assure that it has improved itself. It can now compete directly and aggressively with all other global car makers. HMC is in the league among global car makers. Despite its unique and challenging history as a global brand, the company is still working to make its name more appreciated and recognised the world over.
Original Authors: Manny
Edit Update Authors: M.A.Harris
Updated On: 10/06/2008