HYUNDAI MOTOR FINANCE CO. ADDS FIRST-EVER CREDIT CENTER FIELD OFFICE


08/28/2006 Hyundai Motor Finance Company (HMFC), the credit lending arm of Hyundai Motor America, announced its first-ever expansion with a new credit service center in Austell, Ga. HMFC’s Eastern Region Service Center will manage the credit underwriting and funding activities for Hyundai’s Eastern and Southern Region dealers. The new facility will add 40 full-time positions to Hyundai Motor Finance Company’s current employee count of 325 working from its Fountain Valley, Calif. headquarters. The facility will foster the continued growth of HMFC by improving Hyundai’s ability to service loan transactions and expand market opportunities for dealers located in the Eastern Time Zone.

“As we continue to grow, we are looking to better service our dealers and consumers on the East Coast,” said Michael Buckingham, president, Hyundai Motor Finance Company. “Establishing the East Coast Credit Center allows us to accomplish this goal.”

The facility will be located near Hyundai’s Southern Region office in Austell, Ga. to conveniently serve Hyundai’s East Coast dealerships. HMFC aims to open the credit center in early 2007.

HMFC’s growth mirrors the brand’s tremendous sales volume gains. Since 1999, Hyundai sales in the U.S. have increased by an unprecedented 400 percent. Likewise, HMFC increased loan and lease volume by more than 60 percent, and its dealer commercial volume by 140 percent in 2005 alone. Nearly 50 percent of Hyundai’s 2005 U.S. vehicle sales concentrated in the Southern and Eastern regions.

Hyundai Motor America, headquartered in Fountain Valley, Calif. is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 725 Hyundai dealerships nationwide.