· Hyundai takes over wholesale distribution and service for Hyundai vehicles in the United Kingdom starting from July 21th, 2005
· Main objective is to achieve highest level of sales and service quality for Hyundai customers in the UK.
RUSSELSHEIM, Germ., July 21, 2005 - Hyundai Motor Europe GmbH announces today that Hyundai Motor Company will assume full responsibility for all Hyundai sales, marketing and after sales activities in the UK.
Hyundai Motor Company agreed to acquire Hyundai Car UK Ltd. from the motoring service provider RAC plc. after its acquisition by Aviva plc. earlier this year.
Being asked about the future plans for the Hyundai operation in UK, Ike Oh, President of Hyundai Motor Europe GmbH, responded: “Hyundai Motor UK Limited will focus its efforts on strengthening the brand presence of Hyundai in the UK. In doing so, we will tailor the specifications of our vehicle range more precisely to the particular needs and wants of our UK customers. We have defined service quality as Hyundai’s competitive edge for the UK and we are now fully committed to bring that to market.”
Ike Oh added: “Carmakers face a strong brand competition and strong brands will have to provide added value to customers in order to succeed. Car buyers are looking for excellent products, and a make that provides them with the highest degree of sales and service quality. These values are fundamental traits of Hyundai’s brand philosophy. Yet, we need to intensify communication to make customers in the UK become more familiar with our brand’s core values. We feel that as manufacturer we are in the best position to do so.”
Mid-term business objective of Hyundai Motor UK Ltd. is to double the current sales of Hyundai vehicles in the UK over a period of three years, aiming at a market share of more than 3percent.
The newly founded Hyundai Motor UK Ltd., which operates as a 100% subsidiary of Hyundai Motor Company, will acquire the main business of Hyundai Car UK Ltd. from RAC plc. As an independent wholesale partner of Hyundai Motor Company, Hyundai Car UK Ltd. was responsible for the import and distribution of Hyundai vehicles in the UK since 1993.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai KIA Automotive Group which includes over two dozen auto-related subsidiaries and affiliates. Employing over 50,000 people worldwide, Hyundai Motor posted US$26.1 billion in sales in 2004 (on a non-consolidated basis). Hyundai motor vehicles are sold in 193 countries through some 5,000 dealerships and showrooms. Hyundai Motor Co. is a sponsor of the 2006 FIFA Germany World Cup. Further information about Hyundai Motor Europe and its products is available on the Internet at http://www.hyundai-europe.com
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