Hyundai Becomes Worlds 4th Biggest Automaker

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Recent sales results from Reuters in the UK have confirmed that Hyundai Motor Company is the 4th biggest automaker in the world with 2,153 million units sold in the first half of 2009. Hyundai Motor also reached 5 percent of the global market share in the first half of the year for the first time ever, amid a 15 percent decline in global automobile demand compared to a year earlier.

This result was achieved by expanded share in developed countries including U.S., China and in Europe as the automaker boosted efforts to raise its brand image and continued to expand marketing activities in local markets. In China, Hyundai sold 257,000 units in the first half, a 56% rise from a year earlier, mainly helped by its China-exclusive models.

Hyundai’s total exports to Africa also reached one million units recently, of which Hyundai Automotive South Africa has contributed 20% to this impressive milestone. Hyundai achieved this feat in 33 years following the first export of 26 Pony units, its first own model, to Liberia in 1976. It took Hyundai 29 years to pass the 500,000 export milestone, reached in 2005. However, Hyundai realized the second half million in just 4 years, a testament to Hyundai’s rapid growth in Africa.

Hyundai Motor, which launched its first Hybrid Electric Vehicle, Elantra LPI Hybrid, in this month, will continue its efforts to develop highly fuel-efficient and environmentally-friendly cars, such as plug-in hybrid and fuel cell vehicles, in response to higher oil prices and consumers’ environmental concerns. The company expects to raise profitability in the second half of this year by introducing two new models, new Sonata and Tucson.

RANK* COMPANY SALES CHANGE

  1. (1) Toyota Motor Corp (7203.T)      3.564 mln     -26% .
  2. (2) General Motors Co [GM.UL]      3.553 mln     -22%
  3. (3) Volkswagen AG (VOWG.DE) 3.265 mln      -5%
  4. (5) Hyundai Motor Co (005380.KS)      2.153 mln      -2%
  5. (4) Ford Motor Co (F.N)      2.145 mln     -33%
  6. (8) PSA Peugeot Citroen (PEUP.PA)      1.587 mln     -14%
  7. (6) Honda Motor Co (7267.T)      1.586 mln     -22%
  8. (7) Nissan Motor Co (7201.T)      1.546 mln     -23%
  9. (10) Suzuki Motor Corp (7269.T)      1.15 mln     -10%
  10. (9) Renault SA (RENA.PA)      1.107 mln     -16.5%
    *Ranking of world’s top 10 auto groups by 1st half 2009 sales – Reuters UK