Hyundai Exports 10 Millionth Unit

On July 28, Hyundai Motor Company celebrated a milestone in auto manufacturing by exporting a cumulative 10 million units

In a ceremony held at its main plant in South Korea, Hyundai Motor Company workers prepared to ship their 10 millionth units, its new entry-level Tucson sports utility vehicle.

In 1976, Hyundai began exporting autos with 6 units of the Pony being shipped to Ecuador.

At the ceremony, Hyundai Vice-Chairman Dr. Kim Dong-jin, after reiterating the company’s plan to become one of the world's top five automakers announced Hyundai would launch a luxury brand in 2007. This model will compete with BMW's 5 Series and Mercedes-Benz's E-Class

I wish to stress the beneficial impact Hyundai exports have on South Korean sluggish economy. The firm, which projects $12 billion in exports this year, will produce 5 percent of South Korea's 2004 anticipated $240 billion total

More importantly, Hyundai exports will generate a trade surplus estimated at $11 billion or an amazing 55 percent of Korea's $20 billion surplus.

For the past four consecutive years, Hyundai has exported more than one million vehicles per year.

Last year, it shipped 1.34 million cars with an average unit export price exceeding $10,000.

Global cumulative exports numbers since 1976 include:
The U.S. market buying 3.81 million cars followed by Western Europe at 2.60 million units, Africa and the Middle East, 960,000 units, Asia and Pacific region, 870,000 unit, Central and South America, 750,000 units, Canada 740,000 units, and Eastern Europe at 240,000 units.

Top models exported include:
The Excel, Hyundai’s leading export model at a total of 1.83 million units, the Accent, 1.14 units, the Verna, 950,000 units, the Avante XD, 700,000, units, the Avante, 640,000 unit, the Santa Fe, 570,000 units, and the EF Sonata, 530,000 units.

In 2010, Hyundai targets to ship two million vehicles.