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WE ARE COMMITTED TO EVOLVING INTO A TRUE LEADER OF
THE GLOBAL AUTOMOTIVE INDUSTRY
CEO’S MESSAGE
All of our achievements were made possible due to the continued support of our
shareholders. We will strive to make 2016 a great year with better business results and even
greater achievements.
Dear shareholders,
This year is expected to be another sluggish year for the economy with a potential U.S.
interest rate hike, further slowing of the Chinese economy and low oil prices. Automobile
demand in emerging markets including many Middle East and Asian countries, Brazil and
Russia are expected to fall as well.
However, Hyundai Motor is committed to overcoming these challenges and reaching a new
milestone of five million units in sales. Likewise, we will further strengthen our foundation
for sustained growth by responding to ever changing trends in the automobile market.
With the following strategies, we plan to achieve our 2016 goals.
First, we will focus on successfully establishing our new luxury brand Genesis in key
markets including Korea. Our Genesis brand models are built to surpass even the quality
of European luxury brands and offer great customer service, providing human-centered
luxury, which the Genesis brand promises to deliver.
Second, we will lead the green car market, starting with our eco-friendly dedicated model
IONIQ. Launched in January of this year, IONIQ is built on an innovative versatile platform
and can be configured as a hybrid, plug-in or electric vehicle. IONIQ has fuel efficiency and
performance that surpasses that of all leading competitor models. Going forward, we will
further strengthen R&D to develop top quality green cars.
Third, we will enhance our efforts to prepare for the smart car market, which will be the
future arena of competition for top tier automakers. Therefore, Hyundai Motor plans to
invest further in advanced autonomous driving technology that was applied to the Genesis
G90. We will also increase our investments in intelligent safety enhancement technologies
and connectivity to ultimately create smart cars with maximum safety and convenience.
Lastly, all of us at Hyundai Motor will continue to innovate and make necessary changes to
overcome difficult challenges surrounding the business market and achieve our 2016 sales
target of 5.01 million units while further strengthening Hyundai Motor’s competitiveness for
the future.
Dear shareholders,
I would like to ask for your unwavering support for Hyundai Motor. We will do our best
to meet your expectations by taking all the necessary steps to become the most beloved
automaker in the world, delivering outstanding values to our customers.
I wish you a year full of happiness and great fortune.
Thank you.
In 2015, the global economy continued to remain sluggish. The automotive industry showed
slow growth except in a few advanced markets. In particular, economic recession continued
in Russia and Brazil. The Chinese market which led the growth in the automotive market
slowed down significantly. Amid this situation, Japanese and European manufacturers are
intensifying competition with low prices in part helped by weak exchange rates.
Local Chinese manufacturers are expanding market share with low cost models. At home in
Korea, competition is getting fierce from foreign automakers.
Despite the challenging market environment surrounding the automotive industry, Hyundai
Motor attained number of significant achievements. First, we ranked at the top in the JD
Power 2015 Initial Quality Study (IQS) in the U.S., China and India, reaffirming our reputation
for high product quality. In 2014, our fuel cell system was selected as one of the 2015
Wards 10 Best Engines. In 2015, the new Sonata Plug-in Hybrid made it into the 2016 Wards
10 Best Engines, proving Hyundai Motor’s leadership in clean powertrain technology.
Moreover, Genesis was awarded the Insurance Institute for Highway Safety (IIHS) Top
Safety Pick+ rating, as one of the safest cars in the world. In Germany, the home of
luxury auto brands, Genesis placed first in terms of market share among imported cars,
demonstrating its high quality and competitiveness among European customers.
CEO & President Yoon Gap-han
HYUNDAI MOTOR COMPANY Annual Report 2015
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