ChrisfromQuébec
23/10/2001, 12h06
Hyundai proceeds with U.S. plant plans
By Joe Kohn
Automotive News / October 23, 2001
Undaunted by terrorist attacks and an apparently shaky U.S. economy, Hyundai Motor Co. will go ahead with plans to build a manufacturing plant in the United States, company president and CEO Dong-Jin Kim said Tuesday at the Tokyo International Automotive Conference.
"We have been studying very seriously a transplant program project in the United States," Kim said on stage in front of industry executives and members of the media. "We will make an announcement in the first half of next year regarding the transplant program project."
Kim said the location of the plant has yet to be determined—but Hyundai has narrowed its choice of location sites down to five states, he said.
The plant's output, Kim said, might include Kia-branded vehicles.
"It's one option, but we haven't determined it yet," he said. "The product mix is key to our success in this program."
In 1998, Hyundai acquired a 51 percent controlling stake in Kia Motor Co., which runs U.S. sales arm Kia Motors America Inc.
Kim did not say which Hyundai vehicles would be produced at the U.S. plant. He did mention, however, that following the success of the Sante Fe sport-utility vehicle, Hyundai would put further emphasis on the sport-utility segment in the United States.
Hyundai was one of few automakers that did not see its U.S. sales dive in September following the Sept. 11 attacks. In fact, the Korean automaker posted a 44.2 percent improvement in vehicle sales over September of 2000. For the first nine months of 2001, Hyundai had outpaced its 2000-year sales by a smaller 36 percent.
Kim said the company still expects to sell 320,000 units in the United States this year. Through September sales have reached 260,472.
By Joe Kohn
Automotive News / October 23, 2001
Undaunted by terrorist attacks and an apparently shaky U.S. economy, Hyundai Motor Co. will go ahead with plans to build a manufacturing plant in the United States, company president and CEO Dong-Jin Kim said Tuesday at the Tokyo International Automotive Conference.
"We have been studying very seriously a transplant program project in the United States," Kim said on stage in front of industry executives and members of the media. "We will make an announcement in the first half of next year regarding the transplant program project."
Kim said the location of the plant has yet to be determined—but Hyundai has narrowed its choice of location sites down to five states, he said.
The plant's output, Kim said, might include Kia-branded vehicles.
"It's one option, but we haven't determined it yet," he said. "The product mix is key to our success in this program."
In 1998, Hyundai acquired a 51 percent controlling stake in Kia Motor Co., which runs U.S. sales arm Kia Motors America Inc.
Kim did not say which Hyundai vehicles would be produced at the U.S. plant. He did mention, however, that following the success of the Sante Fe sport-utility vehicle, Hyundai would put further emphasis on the sport-utility segment in the United States.
Hyundai was one of few automakers that did not see its U.S. sales dive in September following the Sept. 11 attacks. In fact, the Korean automaker posted a 44.2 percent improvement in vehicle sales over September of 2000. For the first nine months of 2001, Hyundai had outpaced its 2000-year sales by a smaller 36 percent.
Kim said the company still expects to sell 320,000 units in the United States this year. Through September sales have reached 260,472.