Half a century ago, South Korea’s auto industry was in its infancy. We recall its inauspicious start and chart its early progress.
With global sales(1) in 2020 of 6.52 million vehicles, Hyundai Motor is the world’s third largest auto manufacturer, behind Volkswagen Group with 9.31 million and Toyota with 8.90 million sales. Hyundai, which includes the Kia marque, overtook General Motors in 2019 and continues to move ahead of the troubled US giant, suffering less of a reversal in the Covid-affected 2020 market than either it or the two market leaders.
Fifty years ago, things were somewhat different. Hyundai was building just one Ford passenger car model under licence, while Kia was confined to building Mazda light commercial vehicles. Both manufacturers shared an ambition to Continue reading “Small Beginnings”