Hyundai became the third largest automaker this way

6 min read

Largest automaker, Within a few decades, Hyundai became one of the best-selling car brands in the world. The Hyundai Motor Group is one of the most impressive companies in the world when it comes to automobiles. 

When Hyundai cars were first introduced in the mid-80s and early 1990s in the US, they were regarded as cheap and unreliable. However, Hyundai was not willing to give up in the face of such adversity. Hyundai has managed to turn things around with an insurmountable spirit. During the past few decades, a lot has changed in terms of the world around us.

It was important for them to focus on only one thing: making their cars a lot better than they were before.

With Hyundai’s sister brands Kia and Genesis joining their ranks, the company has become one of the major players in the auto industry. It is with great pride that Hyundai Motor Group holds the title of being the world’s third largest automobile manufacturer based on volume.

As a company, they have won numerous awards and sell millions of vehicles every year. It is estimated that only behind giants like Toyota and Volkswagen, they sold a whopping 7.3 million vehicles in 2023!

“I believe that if people were to go back several years to when Hyundai first entered the American automobile market, they would be surprised to see the Hyundai that we see today, particularly from an American perspective.” said Professor William Barnett from the Stanford Graduate School of Business.

As we move into the 21st century, electric cars are becoming more and more popular. There is no denying that Tesla dominates the electric vehicle market in the US, however Hyundai Motor Group has a reputation for making some awesome electric vehicles, like the Kona Electric, which is among the top-selling cars in the US.

“On the electrification side of things, Hyundai has really done a great job in terms of electrifying its vehicles,” added Sam Abuelsamid, principal research analyst at Guidehouse Insights. As a matter of fact, they have put out some very good products.”

Is there a secret sauce to Hyundai’s success?

Taking the time to constantly improve, unwilling to compromise on the quality of our products, and committing to hire top talent are all part of our commitment to innovation. ‘Futuristic ideas’ are even being tested in a fancy new science center near Singapore that has been built to test out futuristic ideas such as robots in factories, self-driving cars, and even flying taxis. Throughout the Singapore headquarters, the company invests in cutting-edge technologies such as robotics, autonomous driving, and vertical takeoff and landing aircraft, which are among the newest manufacturing methods and cutting-edge technologies being explore.

Despite what Hyundai’s global boss, Jose Munoz, has said about the company, he does not believe that Hyundai Motor Group is a car company. When you look at everything we are doing, it is almost like we are doing things that are out of the realm of science fiction when you take a look at all we are doing at Hyundai Motor Group. I don’t think we are a car company, but a technology company.

There have been some bumps on the road along the way, of course. So, there have been a number of issues involving Hyundai and Kia over the years such as thefts and recalls of millions of vehicles. There is also a tricky world of labour unions in the United States that they have to navigate as well.

Timenews1 provided that news. 

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