January 24, 2001 |
As auto makers arm themselves for a fierce battle to simply maintain market share in a year of tumbling sales, Hyundai Motor Co. of South Korea has been handed the equivalent of a small nuclear weapon for its arsenal: Consumer Reports magazine has rated Hyundai's compact Elantra sedan as one of the best small cars in the United States. The rating underscores how once-reviled South Korean auto makers are overcoming American buyers' concerns about product quality. U.S.
October 2, 2000 |
Hyundai Motor Co., South Korea's largest auto maker, said Sunday that it plans to invest more than $1 billion to build its first plant in the U.S. The car maker is planning a U.S. plant capable of producing 300,000 vehicles a year and expects to begin production in 2003, Hyundai Motor Chairman Chung Mong Koo said at the Paris car show last week, according to a spokesman. The car maker had not yet selected a site. Hyundai Motor has spent a decade trying to raise its reputation in the U.S.
June 26, 2000 |
U.S.-German auto giant DaimlerChrysler will acquire a 10% stake in South Korea's leading car maker, Hyundai Motor Co., for $428 million, both sides said today. The deal was aimed at strengthening Hyundai's strategy to become a global player by ranking among the top five auto makers by 2010. The tie-up also boosted chances of a joint bid to be submitted by the two firms to buy debt-ridden Daewoo Motor Co. in an international auction due today.
May 10, 2000 |
Once-lowly Hyundai Motor Co., the auto maker that gave South Korean cars a black eye in the U.S. a decade ago, has quietly surged past a sliding Mazda Motor Corp. to become the No. 5-selling Asian brand in the country. It is a symbolic victory, as Hyundai so far specializes in subcompact and compact cars that don't compete with much that the Japanese offer. But in a market in which appearance counts, outselling a well-known brand such as Mazda is an important symbol nonetheless.
December 23, 1999 |
Ford Motor Co. said on Wednesday that it is interested in buying Daewoo Motor Co., prompting the South Korean government to solicit bids for its No. 2 auto maker rather than negotiate exclusively with General Motors Corp. Ford will send its top Asia executive, Paul Drenkow, back to Seoul to talk with holders of Daewoo Motor's bonds and loans in early January, a month after he began talks with the creditors. Daewoo has more than $16 billion in debt.
July 9, 1999 |
The National Highway Traffic Safety Administration said Thursday it has begun an inquiry into the air bag-related deaths of seven children riding in Hyundai Motor Co.'s 1995-97 Accent economy cars. The agency has been concerned that air bags deploy and inflate with such force that the impact can injure or even kill a small child or adult.
July 9, 1999 |
The National Highway Traffic Safety Administration said Thursday that it has begun an inquiry into air bag-related deaths of seven children who were passengers in Hyundai Motor Co.'s 1995-97 Accent economy cars. The agency has been concerned that air bags deploy and inflate with so much force that the impact can hurt or even kill a small child or adult.