Hyundai 2004 Annual Report Download - page 25

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Hyundai Motor Company Annual Report 2004_48
Hyundai Motor’s long term objective is to elevate our brand value to the level of the world’s
best auto maker and also join the ranks of the world’s top 30 global brands. Since 1998, we
have rapidly overtaken BMW, Renault, Fiat, Nissan and Honda to claim seventh position in
the world in terms of production volume. We have now proclaimed our goal to be the
world’s best automaker by the end of the decade, and to amass global sales of five million
units annually.
“Our new brand strategy is designed to ensure that we reach industry leading levels, not
only in terms of size, but also in terms of customer perception and overall brand value, while
laying a foundation for Hyundai to become, ultimately, the manufacturer of the world’s best
quality cars,” said Chairman Chung.
The real key to our success in achieving our sales target of five million units a year will
depend on the overseas market. Most of our growth will come from overseas sales which this
year we forecast to grow at nearly twice the pace of domestic sales. Hyundai’s overseas sales
are forecast to reach 1.78 million units in 2005, up 15.3 percent over 2004 while domestic
sales are forecast to rise by 9.8 percent to 605,000 units.
Hyundai has 15 manufacturing plants in 11 countries, and we produce more than half a
million vehicles outside of Korea. We are aggressively expanding output in China and India
and we are planning on constructing additional plants in Slovakia, Vietnam and Brazil. Like
many of our competitors we plan to produce and sell our models as close as possible to the
consumers who buy them, which ultimately means we need to expand our existing
manufacturing network.
Our long-term vision, “Innovation for Humanity.” will succeed our past excellence by
furthering and developing our management philosophy for the future. Our new brand
slogan, “Drive Your Way,” secures our commitment to top quality and productivity through
customer satisfaction and world-wide delivery systems.
Establishing a global manufacturing network that includes the Alabama Plant along with a
new proving ground, which will become the test site for next-generation US-built Hyundai
vehicles, is one of the first steps in our global campaign.
Things Just
Keep Getting
Better!