Hyundai 2000 Annual Report Download - page 14

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sales sharply declined.
However, a succession
of new models, starting
with the EF Sonata and Grandeur XG
have earned Hyundai the highest
accolades in the international
automotive press and sustained
exports which partially offset the loss
experienced in the domestic market.
It was also a period of company-wide
and industry-wide restructuring.
The Kia/Asia Motors acquisition
combined with the Hyundai Precision
and Industries Co. and Hyundai Motor
Service Co. mergers will allow
Hyundai Motor Company to achieve
the economies of scale needed
to compete in the global market.
The year 1999 was a very active and
fruitful year for Hyundai Motors
Company. Following the success of
the EF Sonata and Grandeur XG in
1998, Hyundai Motors Company
unveiled its four latest models,
the Centennial, New Accent, Coupe
face-lift and Trajet. Trajet is Hyundai’s
first expression of the MPV concept,
taking the company into new sectors
of the world car market and further
broadening the company’s impressive