Hyundai 2002 Annual Report Download - page 11

Canada. Hyundai Motor secured an 8.4 percent share of the Canadian automobile market in
2002 to become the fifth largest carmaker in the country and its third largest import carmaker.
This comes after three consecutive years of 30 percent or higher growth in a highly
competitive environment where nineteen carmakers sell over 135 models to a market that is
roughly one-eleventh the size of the American market. Hyundai Motor's steady growth in
Canada is largely attributed to the success of its sedan lineup including the Accent and the
Elantra, and the growing popularity of its small-size SUV, the Santa Fe. Strong sales follow an
intensive campaign to raise brand awareness, improve customer satisfaction and expand sales
networks.
Libya. The government of Libya in 2002 placed an order for 26,373 Accent cars from
Hyundai Motor in the largest single transaction in the history of the company. The contract
came after an international bid by leading carmakers in South Korea, Europe and Japan -
Hyundai Motor came out on top in product quality, corporate performance and cost
competitiveness. This follows several large-scale orders by the Libyan government over the
past few years and the second of this year, which saw 6,900 modified Accent cars for
handicap use going to various state-run organizations. These successes give Hyundai Motor a
unique market advantage as the company works to raise brand awareness and sales initiatives
in the region. Libya’s import market and indeed the import automobile market in the region is
expected to grow as the government cancels its double exchange rate system.
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Left: Hyundai Auto Canada is expanding the
number of Hyundai Motor dealerships in the
country following years of strong sales. Right:
A fleet of Hyundai Accent cars line Hyundai
Motor’s seaport on the southern coast of
Korea in the company’s largest export order in
history.
Significant improvements in sales and
marketing networks resulted in
record-setting overseas sales and
export totals for 2002.
Management
Always preparing for the future and bringing
on change, Hyundai Motor Company has
been leading the automobile industry in the
21st century with its cutting-edge technology
and superior quality as well as a management
ideology to create harmony among
shareholders, customers and automobile-
related companies to enrich the lives of all.
As a company representing the growing Asian
market, Hyundai puts customer satisfaction
first while aggressively pursuing innovation
through continuous efforts such as its Sigma
6quality improvement campaign, to ensure
that its quality remains at top global standards.
Through its endeavors, Hyundai Motor
Company is stepping closer to realizing its
business vision to become one of the top five
global automakers by 2010.
In addition, Hyundai is actively taking part as
a corporate citizen, driving its operations to
become more environment-friendly to ‘live in
harmony with the environment’. Through the
success of the 2002 Korea/Japan FIFA World
CupTM, Hyundai established the image as the
top Korean automaker in the global market
and is currently putting all its efforts to live up
to the reputation.
In order to fulfill its management ideology and
business vision, Hyundai Motor Company
plans to focus on trust-based management,
site-intensive management and transparent
management in mid-to-long term while
pursuing the following management policies
in short term to maximize its competitive
power and swiftly respond to the ever-
changing business environment.
First of all, by raising the standards of every
aspect of the company to the global level,
Hyundai will secure competitive power in the
global market while at the same time using its
overseas production plants as a foundation to
reach out into the global market. Second,
Hyundai plans to improve its management
system to ensure a continuous flow of profits
by cutting excessive costs to maximize profits
while investing in promising business areas.
Focusing on core competencies will also help
to minimize effects of the unstable business
environment on the company and enhance
competitive power going forward. Third,
through building trust with its employees
based on humanism, Hyundai Motor
Company will build a ‘Great Workplace’ to
raise the quality of its employee’s lives. Lastly,
Hyundai Motor Company will assume its
responsibilities as a corporate citizen, building
an environment-friendly management
foundation and promoting high morale
standards throughout the company. As a