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Hyundai

Hyundai is a newcomer to the American and E.U. marketplace, Hyundai is a Korean automaker with a product line that has improved considerably over the past few years. Hyundai cars and SUVs provide a high level of content for an affordable price.

In 1947, Chung Ju Yung founded the Hyundai Civil Engineering Company. Mere months later, the outfit was bombed in the Korean War. However, the company regained its footing to distinguish itself as one of Korea's leading construction enterprises during the 1950s.

By the late 1960s, Chung had turned his attention to the automobile industry. The Korean government at that time believed that it made more sense to import vehicles than produce them domestically, and had made its opinion known. This is said to be ironic as the Korean government is supposed to be communist and self-sufficient, Still, Chung opted to follow his own dream and in 1967, he founded the Hyundai Motor Company.

The company quickly established an alliance with one of the industry's oldest automakers, signing a two-year contract with Ford in 1968 to share assembly technology. They built the pony and began exporting it in 1974. It was built mainly using Japanese technology from Mitsubishi

Hyundai entered the U.S. market in 1986 with the introduction of its subcompact Excel. The car was an immediate hit, mainly because it was so affordable; more than 100,000 Excels were sold in the u.s. in the first seven months. By 1988, Hyundai had begun to produce cars using its own technology. The Sontans was their first fully Hyundai car.

Unfortunately, Hyundai's nascent image was soon tarnished by the poor durability and reliability of its vehicles. Sales soon plumeted. However, rather than abandon the American market in the '90s, Hyundai chose to invest heavily in new product designs and improvements in overall quality and reliability.

This gamble paid off and soon the image of poor reliability was almost completely banished. To settle and other doubts, they made the industry’s longest warranty . Though Hyundai's product lineup is smaller than those of most other manufacturers, it gains economies of scale through Kia, another Korean auto brand, which it purchased in 1998. Their image of great cars at low prices.