Hyundai 2006 Annual Report Download - page 44

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Sustaining Global Management
40
Asia
Pacific
• MARKET CONDITIONS & PERFORMANCE
In 2006 Asia/Pacific was the shining light of all world regions for HMC. Outstanding
growth in the Indian and Chinese markets coupled with an expansion of investment,
production and partnership agreements throughout the region, drew special notice in
2006 and ensured the future of the Hyundai brand in the world’s most populous region.
Indian led the way in 2006 achieving its target sales and improving on the already
impressive gains it has made since Hyundai arrived in India in 1996. Hyundai Motor India
(HMI) achieved a combined sale of 299,513 vehicles, adding up to an increase of 18.5
percent over 2005. This was achieved with a domestic increase of 19.1 percent and a
export growth of 17.4 percent. In addition HMI reached significant milestones in its
history, rolling out the fastest 300,000th export car and the fastest one millionth car
overall. The successful launch of the Verna in 2005 looks set to galvanize these excellent
figures into the future.
India seems well suited to the Hyundai brand as the most successful models the Santro
and Sonata have captured the imagination of millions of Indian people. Throughout the
country the Santro is seen as the car of people while the Sonata is viewed as the
aspirational vehicle for the wealthy and emerging middle classes.
Beginning operations in China in 2002, Beijing Hyundai Motor Company (BHMC) continued
its rapid rise in the Hyundai consciousness in 2006. Producing 300,000 units per year the
Beijing plant is perfectly situated to capitalize on China’s growing middle class.
An ever increasing desire of Chinese people to own and drive vehicles is influencing HMC
investment in that country. It is difficult to predict just how huge this market can become
within the next decade, however early signs are that the world needs to prepare for a
rising juggernaut for business and investment opportunities. HMC is doing precisely that
with our strategies in the Chinese market.
‘04
139,367
‘06
185,641
‘05
155,157
‘04
144,088
‘06
290,011
‘05
233,668
17.4
18.2 18.2
5.8
6.9
Total Sales (Units)
Market Share (%)
*Passenger Car Segments *Passenger Car Segments
Retail Sales &
Market Share
in India(HMI)*
Total Sales (Units)
Market Share (%)
Total Sales &
Market Share
in China(BHMC)*
7.5