Hyundai Motor UK is this year celebrating its landmark anniversary of 10 years in the UK, since the subsidiary was founded in July 2005*.
Since its official opening in 2005, Hyundai Motor UK has sold over 600,000 units, with over 82,000 cars sold in 2014 alone. The brand’s market share has more than doubled from 1.5% to 3.5% making it the fastest growing car manufacturer in the UK. Hyundai Motor UK’s rapid growth can also be seen at the company’s import centre at Tilbury Docks in Essex, which has grown to three times its original size in order to accommodate the increased demand.
Globally, Hyundai Motor has sold over 37 million cars over the last decade –with 1.7 million cars sold in 2005, compared to 4.96 million in 2014. Additionally, Hyundai was named the 40th most valuable brand in 2014, up 44 places since 2005**. This transition means Hyundai is the fastest growing automaker in the world, with a brand value increase of 200% over the 10 year period.
T W White & Sons have been a Hyundai dealer for over 20 years, and were among the first to become a franchised dealer for Hyundai Motor UK when it formed in 2005.
Neil White, Managing Director, said “Back in 2005, new Hyundai sales accounted for around 19% of our new car business. Fast forward 10 years and Hyundai now account for over 35% of our new car business. This goes to show how far the manufacture has come in a relatively short period of time. The products available across the Hyundai range have gone from strength to strength and people now recognize the established brand for its competitive pricing, quality vehicles and the value for money that Hyundai stands for.”
T W White & Sons dedicated Hyundai showroom in Weybridge, Surrey, has the full Hyundai range available to view and test drive – with many models available with industry leading finance offers and large deposit contribution.
Speaking about Hyundai’s anniversary celebrations, Professor Garel Rhys CBE, President for the Centre of Automotive Industry Research, Cardiff University states:
“Over the last ten years, Hyundai Motor has been the most significant and impressive car company on the world stage. They are clearly number one in Korea despite the Asian Financial Crisis, they are one of the top companies in China and a major player in the US. They have solidified their position in Europe by not just selling into but manufacturing in the region –this is the sign of a truly global company.
Rhys adds: “They have been able to tap into consumer preference in the UK by offering customers what they want and were quick to respond when the recession hit and the scrappage scheme was introduced –other brands had the right products at the right price but they failed to act as quickly. Hyundai’s success though would not have continued without the investment in product. In my opinion, Hyundai Motor has definitely been one of the smartest actors in the automotive industry over the last decade.”
Tony Whitehorn, President and CEO, Hyundai Motor UK, said: “I joined Hyundai in 2005, and it’s fantastic to see how far the company has come in such a short space of time. Our success has been driven by three key areas: our product, our customer and our people.”
“In the last 10 years our product range has been completely transformed. We have transitioned from a brand with product that was purchased on price and reliability to a brand with product that’s now also bought for its looks, technology and comfort.
“Back in 2009, we took a risk. When the government launched the ‘Scrappage Scheme’, we were ready and waiting to fulfill customer orders when many other manufacturers were running out of stock. It’s this move that led us from 28,000 sales in 2008 to over 61,000 in 2010. However, our continued investment in product, the brand and the customer experience has ensured we are not just a one trick pony!
To celebrate the 10th anniversary, Hyundai Motor UK will be launching a world-first driving challenge in London. More details will be released this Autumn.
The challenge will culminate in a celebratory event where another Hyundai milestone will be announced.
*Hyundai has sold cars in the UK since 1982 through importer, Hyundai Car UK. In 2005, Hyundai Motor UK was formed as an official global subsidiary