General motors company Research Paper Example | Topics and Well Written Essays - 2000 words

General motors follow - Research Paper ExampleThe connection is a South Korea conglomerate company with its headquarters in Seoul. Chung Ju-Yung founded the group in 1998 after the purchase of the second largest car company Kia Motors, Hyundei purchased 51% of the company thus leading to the growth in the companys operations and its market share. The acquisition of stake in Kia Motors proverb the companys reestablishment, thus leading to its growth. Hyundei Company deals in production of cars, minivans, trucks, buses and other commercial message vehicles. In 2000, the company establishes a fuel task force in Yongin, which acted as the companys research and development center. In the same year, the Hyundei saw its victory after disclosing its first prototype fuel cell vehicle (FCV), which was regarded as the Sante Fe Sports Utility Vehicle just a few months subscribe an agreement with International Fuel Cells with an motility of supplying fuel cell power dress. The sales made by the company have over the age increased significantly, for example, it made sales of over 3.6 million for its vehicles worldwide. The company is known for its operation of the world largest integrated automobile manufacturing facility, which is based in Ulsan, giving it an power of annually producing up to 1.6 million units. Hyundai Company has been significant in the provision of employment opportunities it has employed 75,000 persons worldwide. The company sells its vehicles to 193 countries this is achieved by use of 6,000 dealerships and showrooms (Chung 22). The major achievement of the company was witnessed in 1986, when he sell its products in the internationally it began to sell cars to the United states, where its product Excel got nomination of being the best product this was because of its cheap prices thusly affordability. This was a stepping-stone to the company and from then it began producing model using the available technology. The aggregate production of in 199 0 was estimated to be over four million the company has seen its success in development of gasoline engine and its own transmission. These developments have given the company an opportunity to become technologically independent. In 1998, the company in an effort of establishing the company as an excellent brand, management and leadership was transferred to Chung Mong Koo the son of Chung Ju-Yung. This marked the beginning of heavy investment, invention of various designs, manufacturing and effectiveness in research of the companys vehicles. Hyundai motors have maintained its position in the region and the world its products are known for the profound performance it has portrayed it has become the top well-nigh valuable brands worldwide (Chung). Situation Analysis The company has been ranked as the fastest growing car manufacturing business in South Korea. Currently, the company is intricate in marketing of 20 variants of passenger cars in six segments. The continued performance of the company of being the fastest and leading passenger car manufacturer has lead to the company registering high sales of up to 299, 513 vehicles in 2006, and these amounts to 18.5% increase from over the previous year. The companys growth rate in the interior(prenominal) market is an increase of 19.1% in 2006 compared to 17.4% in 2005. The companys subsidiaries like Hyundai Motor India Limited contain a fully integrated state-of-the-art manufacturing plant has assists in boosting of quality