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History of Hyundai Motors

History of Hyundai Motors thumbnail
History of Hyundai Motors

The Seoul, South Korea-based Hyundai Motor Company was founded by Chung Ju-yung in 1967 and immediately partnered with the Ford Motor Company to produce the Cortina compact car in 1968. Hyundai focused on manufacturing quality economy cars and began exporting the Excel to the United States in 1986. Today, Hyundai consistently ranks among the top quality import cars in the United States and Europe.

  1. Domestic Market

    • Hyundai founder Chung Ju-yung passed away in 2001 at the age of 86.

      Hyundai produced its first domestic car in 1975 with the Pony, which was powered by Mitsubishi engines.

    Quality Control

    • Hyundai developed quality control problems in the late 1980s.

      Hyundai cars in the late 1980s emerged with a poor reputation for quality due to its cost-cutting policies, prompting the company to develop new design and manufacturing procedures and institute a 10-year, 100,000-mile warranty on all cars.

    Independence

    • The Ford Cortina was the result of a partnership with the Ford Motor Company.

      The company developed its own engine and transmission in 1991, weaning itself from Mitsubishi.

    India Connection

    • The 1974 Hyundai Pony coupe is an early example of aggressive body styling.

      Hyundai Motors India Ltd. was established in 1996 with an assembly plant built near Chennai, India.

    Kia and Chrysler

    • The 2007 Hyuindai Tiburon GS.

      Hyundai bought Kia Motors in 1998 and two years later partnered with DaimlerChrysler to create the Daimler-Hyundai Truck Corporation before Chrysler bowed out in 2004 due to financial difficulties.

    In Good Company

    • The 2010 Hyundai Genesis coupe

      By 2006 Hyundai was placed third behind Porsche and Lexus and ahead of arch-rival Toyota in overall quality by J.D. Power and Associates.

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