Hyundai 2000 Annual Report Download - page 25

Driven by the brisk
recovery of the
domestic economy in
2000, Hyundai Motor’s sales surged 14
percent year-over-year to 650,000 units.
As a result, our market share increased
to 44.6 percent from 45.2 percent in
1999. In particular, sales of minivans
and SUVs grew 17.3 percent, up
sharply from the previous year, thereby
contributing greatly to profitability
improvement and increasing the
company’s market share.
We remain optimistic about the
domestic economy which will continue
to expand in 2001 with growth rates
recovering to pre-recessionary levels
fueled by strong consumer confidence
and demand for durable goods. This
market expansion is expected to
continue even after 2001 as domestic
automakers introduce new models
and a sharp rise is forecast in
replacement car demand and in the
number of multiple car households.
In our forecast, the market will
contract slightly t during the first half of
the year due to growing
unemployment rates and the
corporate restructuring drive both in
the manufacturing and banking
sectors but we expect consumer
sentiment to recover during the
second half of the year as the nation’s
economy stabilizes. Accordingly, the
company has been stepping up efforts
to boost sales by introducing new
models such as the New EF Sonata
and the Terracan SUV in order to
equal last year’s sales figures.
As it grows more mature, the Korean
market is moving into a major
transitional phase which will see
consumer buying patterns shift toward
more diversified and sophisticated
products. The market system itself
is expected to go through significant
change and innovation, influenced by
the Internet and fast developing
information technologies. In order to
keep pace with the accelerating pace
of change, Hyundai Motor has
adopted a four-pronged response:
First, customers’ needs will be more
effectively reflected in the production
development process by conducting
more thorough consumer surveys,
marketing analysis and product
planning. To this end, the company
has introduced a new product idea
reflection system which solicits input
from our employees as well as sales
staff in the field and consultants.
Second, the company has integrated
its sales and after-sales network in
order to enhance customer satisfaction
and improve its brand image.
Third, the company has opened a new
chain on dedicated showrooms for the
Equus luxury sedan in order to
differentiate the Equus brand image
from other passengers cars in the
Hyundai lineup and more effectively
address the challenge posed by
imported automobiles.
And fourth, to ensure delivery of the
highest level of service to our
customers the entire customer
database will be overhauled so that in
the future we will be able to accurately
anticipate consumer needs on the
basis of analyzing individual customer
history, personal preferences, buying
habits and market trends.
Overseas Marketing
The company is continuing to make
big strides in the international
marketplace where consumer
perceptions of the Hyundai brand
continue to improve. To reinforce its
overseas marketing operations,
the company has been increasing the
number of regional headquarters since
1999 and has strengthened operations
by investing in better training and the
continuous upgrade of information
systems which will enhance
efficiencies and enable quicker
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Hyundai Motor Company • 2000 Annual Report
The flagship showroom for Hyundai’s flagship
sedan, the Equus
Imotorcast, a satellite-based service, hits the road
to maximize customer satisfaction