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Born from a family of farmers, Chung Ju-yung founded the Hyundai construction firm in 1947. Taking advantage of the 1962 South Korean “Automotive Industry Promotion Policy”, Hyundai expanded its range of business in 1967 by founding the Hyundai Motor Group. At first, the company operated in partnership with the Ford Motor Company in accordance with the government policy prohibiting foreign car maker of operating without a business relationship with a Korean company. It did not take long before Hyundai decided to develop its own car making the Hyundai Pony the first entirely Korean car of the country.
Although the Pony was successfully exported to Canada, the first Hyundai car to enter the American market was the Excel. The immediate hit the car received was due to its affordability. The model was even deemed the “#10 best product” by Fortune Magazine in 1986. The company formerly held a reputation of poor quality that they resolved by investing in their own technologies and by establishing a 10 year warranty for its vehicles sold in the US. Subsequently, the company received many positive reviews on the subject of reliability and security.
The company’s impressive growth is not wavering, making Hyundai the fifth largest automobile maker in the world. You can make sure that your investment is protected with TouchUpDirect Hyundai touch up paint.