" Hyundai won the 2003 Global Automotive Shareholder Value Award presented by PriceWaterhouse Coopers and Automotive News.
It is now ranked seventh in the world in vehicle sales and controls more than 70 percent of the domestic market. Hyundai began shedding its image as a cheap carmaker in 2000 when it shipped the Santa Fe SUV, or sport utility vehicle, in the United States. It sold 111,447 Santa Fes last year in the United States.
Hyundai sold 419,000 cars last year in the United States, up 4.6 percent from a year ago. In January, the company opened a 60 million dollar testing center in California. The 1,750-hectare (4,300 acre) facility followed years of surveying US consumer tastes. in Europe, the Hyundai-Kia group says it hopes to open a 1.24 billion dollar plant in Slovakia late this year.
"Among other overseas production bases, Hyundai plans to set up its second auto plant in India by 2007 to boost capacity from 250,000 units to 400,000."
In China, the company saw sales rise sharply to 144,000 units in 2004, two years after it opened its first joint venture there. It has announced a 940 million dollar investment plan to boost the capacity of its China facilities to 600,000 units a year. "
So what does this mean for India and the US. Well, personally I will never invest in Indian market unless I was planning to overthrow or takeover the Government. But, this looks like another huge investment in India which would affect more flow of steel in the country as 70% of car's frame is made up of mainly steel. This means, well by 2007, prices of steel going up but in a good way for the Indian Economy (if Laloo Prasad Yadav doesn't shit on it by then...). The U.S. is looking for a tough times ahead and so is it's car industry. With new big boys like Hyundai Motors and Kia Motors, popular brands like Ford and Dodge might have to give up a big piece of the pie. Personally, I have seen Hyundai Motors delievering one good car after another which makes impossible to look beyond it.
So, if one of my friends "grown-up" dream is to buy a Hyundai Sedan, well, all I can do is smile and tell him that he is making a right desicion....