I usually talk about trends in Korean culture and business. In this Blog, I try not to focus on a specific company. This does not mean I professionally focus only on trends, quite the contrary, I work closely with top Korean corporations daily. I support both their Korean and global management and teams.
For example, I spend considerable time supporting Hyundai and Kia Automotive Group teams in Korea and worldwide. Few know Hyundai and Kia like I do !!
So, I'm not surprised at this recent announcement. In my eyes, Hyundai has always done the impossible. It's part of their heritage and culture. Expect this to continue....
Hyundai-Kia Automotive Group Joins Ranks of Global Top 5 Automakers
Rapid climb from 11th in 1999 global rankings to 5th place in 2007
(Seoul, Korea) With global sales of 3,961,629 units in 2007 the Hyundai-Kia Automotive Group has emerged as the world's fifth largest automaker moving up from sixth place in 2006, according to Automotive News' 2008 Global Market Data Book published yesterday.
While quantitative growth has been an important objective in the past for the Group, the company’s efforts are now focused on qualitative growth in terms of continuous improvement in corporate social responsibility, profitability, technological innovation and brand power. Hyundai-Kia has the momentum to keep on growing.
The Group has seen remarkable growth in the four decades since Hyundai Motor Co. was founded. It ranked as the world's eleventh largest automaker in 1999, the year Hyundai-Kia Chairman Chung Mong-Koo took over the helm as the CEO. Since then, under Chairman Chung's leadership, it has moved steadily up the rankings ladder, accelerating its push to globalize operations by building new manufacturing plants in the United States, China, India, Slovakia, Czech and Russia.
Counting the export sales of 185,114 complete knock-down kits which are assembled by overseas partners, the Group's 2007 global sales reached 4,146,743 units. Automotive News’ methodology excludes CKD sales.
2007 Global Sales Rankings
1. Toyota Motor Corp. 9,366,000
2. General Motors 8,902,252
3. Volkswagen AG 6,191,618,
4. Ford Motor Co. 5,964,000
5. Hyundai-Kia Automotive Group 3,961,629
6. Honda Motor Co. Ltd. 3,831,000
7. Nissan Motor Co. 3,675,574
8. PSA/Peugeot-Citroen SA 3,428,400
9. Chrysler LLC 2,676,268
10. Fiat S.p.A. 2,620,864
Established in 1967, Hyundai Motor Co. has grown into the Hyundai-Kia Automotive Group which was ranked as the world’s sixth largest automaker in 2006 and includes more than two dozen auto-related subsidiaries and affiliates. Employing more than 75,000 people worldwide, Hyundai Motor posted sales of US$74.9 billion in 2007 on a consolidated-basis and US$32.8 billion on a non-consolidated basis (using the average currency exchange of 929 won per US dollar). Hyundai vehicles are sold in 193 countries through some 6,000 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available at http://www.hyundai-motor.com