Hyundai Motor Company Passes Milestone with Export of 10 Millionth Vehicle

But the real reason exports have grown so dramatically, is due to an increase in the number of export markets. In 1980 Hyundai

It took 22 years for Hyundai to reach its five million car export milestone, but only 5 and a half additional years to achieve 10 million. The Elantra (shown) made up 1.72 million of the 10 million total. (Photo: Trevor Hofmann, Canadian Auto Press)

only sold its vehicles in 38 countries, but with the recent additions of Iraq (see news archive for Apr 15, 2004: New Hyundai Dealership Opens in Baghdad amid Recent Violence), Afghanistan and Tunisia, a total of 193 countries sell Hyundai vehicles. As part of this expansion more than 5,000 dealers display the stylized Hyundai "H" on their storefronts.

So, why should this concern Toyota? It took 22 years for Hyundai to reach its five million car export milestone, arriving in 1998, but only 5 and a half additional years to achieve 10 million. It is entirely possible, that given enough time Hyundai could surpass Toyota in export sales in the same way it passed the world's number three selling automaker in J. D. Power's initial quality index.

While the most popular Hyundai export on a global scale has been the subcompact Accent, at approximately 2.1 million units,

Hyundai will enter the luxury car market with its redesigned Equus in North America and European markets (concept shown). (Photo: Hyundai Auto Canada)

followed by 1.72 million Elantras, the brand plans to launch a new compact SUV this fall, the Tucson, a redesigned Santa Fe and even a pickup truck in the not too distant future, which should do much to bolster sales and profits even further.

Hyundai will also enter the luxury car market with its redesigned Equus in North America and European markets, and may even spin off a separate luxury brand similar to Toyota's Lexus. While Lexus executives scoff at such an unlikely competitor, they had best think back to when traditional luxury car buyers paid them the same respect when announcing the Lexus brand. Are the Americans and Germans laughing now? Hyundai may attempt to beat Lexus at its own game, just because it can.