Hyundai Memorandum - Hyundai is headquartered in Seoul...

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Memorandum TO: Dr. Robert Grenier FROM: Megan Kave DATE: April 21, 2011 SUBJECT: Hyundai Motors CONTENT: I have learned a lot about the history, financials, and business aspect of Hyundai Motors. In 1968, Hyundai signed a licensing agreement with Ford Motors, who today is now one of their main competitors. Hyundai bought out Kia Motors in 1998, had a relationship with Mitsubishi in 1981 that branched off in the early 1990’s, and also had a relationship with DaimlerChrysler that ended in 2004. It is interesting to see all the different relations that Hyundai has had with different motor companies through the years. Also, Hyundai’s move to get more production in the United States seems to be a good business decision. I did not realize how many suppliers were in North America; with half of them being in Alabama. Hyundai has continued to rise in sales with a 2009-2010 yearly sales increase of 1.7%. This can be affected though by one of Hyundai’s weaknesses being the fluctuating currency. Since
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Unformatted text preview: Hyundai is headquartered in Seoul, South Korea they have to pay attention to what the Korean Won is compared to the United States dollar and European Euro. The Hyundai Motors logo of the cursive H is a major strength and social aspect for the company. The brand has continued to grow worldwide so that in 2009 they were the world’s 69 th most valuable brand. This same brand image can also be effective negatively. For example, in the social aspect, Hyundai has had many recent recalls that cause car buyers to question the quality of vehicle they are purchasing. CONCLUSION: Hyundai has strengths and weaknesses like any company, but for the most part they are doing well for themselves. They have continued to improve competitively since they began in 1967. They grow an even larger stronghold in the United States as more suppliers are built there and sales continue to increase. I would not be surprised if very soon Hyundai starts surpassing its competitors....
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