Hyundai 2006 Annual Report Download - page 46
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Sustaining Global Management
42
Domestic
• MARKET CONDITIONS & PERFORMANCE
In a difficult worldwide climate HMC has weathered increased materials costs, a higher
than usual price of oil and an unfavorably high Korean won to emerge better placed to
navigate through these difficult times than at any previous juncture in our history.
The successful implementation of cost reduction through productivity enhancements at
the domestic factory level, coupled with an enriched sales mix in Korea has allowed HMC
to not only operate through these difficult times but to enhance brand value globally and
increase sales domestically.
In fact 2006 was another record breaking year for HMC as worldwide sales reached
2,617,644 units, a 3.9 percent increase over 2005. This outstanding result was led by
productivity gains in our Korean manufacturing plants. HMC’s three factories shipped
1,523,486 units (including knock-down kits) to export markets in 2006. This represents a
2.7 percent year on year increase, an outstanding achievement during such difficult times.
This figure is all the more impressive given the month-long labor union strike which
affected domestic production.
This result is testament to the strengthening partnership HMC enjoys with labor unions
as both parties have emerged the better from 2006, as evidenced by our growing
production and export performance.
In domestic sales, overall figures for 2006 rose by 1.8 percent with passenger cars rising
7.4 percent to 326,339 units but MPV and SUV sales dipping by 8.9 percent. This fall was
attributed to a conservative youth market in 2006, traditionally the main source of SUV
and minivan sales.
‘04
1,126,592
‘06
1,030,774
‘05
1,131,122
•
Units
Domestic
Total Export
17.4
18.2 18.2