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12
Hyundai Motor Company
Annual Report 2005
>>Sublime Drive
11
Letter from the Vice Chairman
We send many warm thanks and kind wishes to all of our loyal and respectable stakeholders who
have followed our progress throughout the past year.
Despite the difficult economic climate of 2005 beginning with the drastic decline in the valuation of
the foreign exchange rate, the instability in international oil markets and the hike in the overall
prices of raw materials, 2005 was a highly successful year for Hyundai Motor Company as we
were able to solidify our reputation as a leading global corporation through continued support from
all levels of management.
Our continual pursuit of quality management and customer driven management has led to
improvements across the board, not only propelling the development of the Hyundai brand
throughout global markets, but also enhancing the general profit structure by placing the company
into crisis management mode. Additionally, in order to expand potential sustainable development,
efforts have been concentrated on strengthening the overall competence of the enterprise through
investments in R&D and human resources and other related channels.
On the heels of the 2004 Sonata’s number one ranking in the U.S.A in J.D. Power and Associates
New Automobile Initial Quality Study, Hyundai Motor Company garnered top marks with respect to
the best improvement in product quality in the 2005 J.D. Power and Associates Durability Study,
outdistancing two German automobile giants.
Such improvements have given rise to an advancement in brand value, resulting in Hyundai Motor
Company being named by BusinessWeek in a study conducted by Interbrand, as one of the
world’s top 100 brands with an estimated net brand value of US$3.5 billion.
Using our success displayed in Hyundai Motor India (HMI) and Beijing Hyundai Motor Company
(BHMC) as the foundation, we have recently completed the construction of HMMA in the U.S.A,
the largest automotive market in the world. In addition, having recently established the European
sales and marketing head office, Hyundai Motor Company has equipped itself with the necessary
global production, sales foundation and infrastructure to play a pivotal role in the global automobile
markets.
The continuing effort by Hyundai Motor Company to prioritize and strengthen the return on
investment to stakeholders continues be one of the most important objectives of the company. A
recent study by PWC and other prominent global accounting firms cemented HMC’s top
automobile industry ranking as our 2005 price earnings ratio of 79.5 percent, greatly outdistanced
the industry average of 9.4 percent. As a result of your continued support and loyalty, we are
extremely pleased to pass along such outstanding accomplishments to you.