For Hyundai 2011 means not only a year of great models but also the celebration of 25th years of serving the U.S. automobile needs. This doesn’t just mean one big party for Hyundai, the company is gearing up for a number of new developments in its future, including the completion of its state-of-the-art headquartering Fountain Valley and its plan to boost its fuel economy by 2025.
“As far as we’ve come since 1986, we still feel we’re in the early stages of connecting the Hyundai brand to the U.S. consumer,” said John Krafcik, president and CEO of Hyundai Motor America.
In 1986 Hyundai broke into the U.S. market with the Excel model, which some 6.6 million American drivers purchased. They’ve come a long way, last year the company sales totaled more than 538,000, making it the sixth best-selling brand in the country. In addition, Hyundai has grown its U.S. production capacity to more than 400,000 Sonata, Elantra and Santa Fe models, which are manufactured in Alabama and Georgia, and total employment – including suppliers and dealers – comes in at more than 45,000. Currently, the company offers 12 cars and crossovers, and its U.S. investments total $1.7 billion.
The company attributes some of its success to its 10-year, 100,000-mile powertrain warranty and its five-year, 60,000-mile vehicle warranty, as well as its Hyundai Assurance program, which offers five years of unlimited mileage roadside assistance and a job-loss protection offering, among other features.
Looking to the future Hyundai plans to introduce three new models the three-door Veloster coupe, and four- and five-door Accent models.
25 Years of Hyundai in America is an incredible accomplishment. To commemorate the occasion, Penske Automotive Group would like to looked back to the days of its first U.S. models and forward to its future, noting all the major milestones along the way.
- Hyundai became the first Korean company to enter the U.S. market in 1986 with the Excel. The Excel priced at only $4,995 was a big hit selling about 168,000 in the first year.
- Hyundai Sonata was introduced to the product line as an upper-market alternative.
- In the 1990s the brandy went sporty and subcompact with the Scoupe. Latter they added Tiburon and Santa Fe to the production hoping to cater to a few more niches.
- Over the years the company has had several concept vehicles but perhaps the most popular was the Genesis of the 2007 New York Auto Show.
- The next step in Hyundai’s evolution is the Equus, a full-size, rear-drive luxury sedan introduced in 2010.
Over the last 25 years, the U.S. has been good to Hyundai, purchasing more than 6.6 million vehicles from the brand since its inception. Hyundai says nearly 4.4 million are still on the road. But the automaker’s relationship with America has been mutually beneficial, with more than 45,000 employees nationwide depending on Hyundai, which has invested $1.7 billion on U.S. soil.
After a successful 25 years in the U.S., Hyundai is now focusing all its efforts on the future. The automaker has set an ambitious goal of a 50mpg fleet average by 2025 and continues to develop new fuel-saving technologies, from direct injection to new fuel cell and battery systems.
Congratulations from your friends and Penske Automotive Group. And here is to 25 more years of innovative vehicles and quality customer service.