In 1967, a little-known South Korean auto manufacturing company made a play for a place on the market. Hyundai had humble beginnings but has done well in making a name for itself over the last 55 years with the Hyundai Motor Group, which encompasses names like Genesis Motors and KIA motors.
Although the company officially began in the mid -1960s, its origins go back to 1947 as Hyundai Engineering and Construction Company by Chung Ju-Yung. The company got off the ground in 1967, but the first vehicle rolled out in 1968 as the result of a partnership with Ford Motor Company and the inception of the Cortina.
For several years, Hyundai worked with Ford on developing and building vehicles, and in 1975, the company broke away from Ford with the debut of the Hyundai Pony. The new auto construct was a blend of inspiration with a body designed by an Italian designer and technology developed by a Japanese company called Mitsubishi Motors. Hyundai grew in success and expanded to England in 1982, Canada in 1984 and by 1985, Hyundai had sold its millionth vehicle.
A year later Hyundai made its way to the United States when it passed its emission test. Soon after, consumers fell for the models because of their more affordable sticker prices. Hyundai proceeded to work on the Hyundai technology and in 1988, Hyundai released the Sonata, which was the first to use Hyundai technology, and the Sonata climbed into the ranks as one of the top 100 most valuable brands on the market globally.
Today, Hyundai continues to grow and develop new models regularly. Hyundai’s largest integrated manufacturing plant is in Ulsan, South Korea. It can produce 1.6 million units annually which are sold in 193 countries. Hyundai boasts of seven research and development facilities that are always working on new technology and new and innovative ways to use technology. One facility is in Japan and three are in South Korea, one in Germany, and another in India with the final one in the U.S. in California, focusing on US models.
Hyundai has acclaim for its sedan models like Elantra and Sonata, which are still popular vehicles today. Their greatest success is in their SUV line with models like the five-seated Santa Fe and the eight-seated Palisade with compact models like the Kona and Venue for the sportier SUV market.
Hyundai has also had success with the hatchback market, with vehicles like the sporty Veloster and the Elantra GT. To remain competitive with other manufacturers, Hyundai has turned to alternative fuel vehicles like the Hybrid and Electric IONIQ models. Other alternative fuel options encompass models like the Kona and Sonata. Hyundai has also developed the first Hydrogen Cell SUV with the Nexo as a different alternative fuel option vehicle from the electric and hybrid models. If you are interested in any of the Hyundai models and you live near Dallas, Andrews, or Gilmer contact Stanley Automotive Finance Enterprise and let us help you get into the Hyundai you want.