"Hyundai Motor, which said 'Our cars aren't that fast,' made a splash in the US"

Hyundai's Early US Entry Faced Media Mockery
Recently Proven by Quality, Performance, and Sales
15 Million Units Sold in 36 Years Since 1986 Entry
Ranked 5th in Market Share After Toyota and Local Brands
"Give Up Independent Car Development" US Persuasion Rejected by Chairman Jeong Ju-young
Accelerated Independent Development
"Electric Cars Are First Movers" Encouraging Employees

Honorary Chairman Chung Ju-yung of Hyundai Group is inspecting the Pony Excel, a newly developed car independently created in 1985, at the new car launch event.

[Asia Economy Reporter Choi Dae-yeol] The 1992 LA riots are often traced back to the ‘Excel speeding’ incident involving Rodney King, a Black man. King was involved in a police chase while driving a Hyundai Excel, a compact sedan that Hyundai had just started exporting to the U.S. Later, when the riots broke out, the police claimed King was speeding at 110 mph (176 km/h) during his arrest. Hyundai protested, saying such a speed was "impossible for the Excel," and the police later revised their statement to about 85 mph (136 km/h). There were suspicions that the police lied without fully understanding the vehicle’s performance to emphasize King’s wrongdoing.

In the 2014 American film ‘Happy Ending Once More,’ Hyundai is portrayed unfavorably. The protagonist, once a successful screenwriter, has become a washed-up figure with no income after many years. The car he drives in the movie is a Hyundai Avante, a compact sedan. In other American dramas, Hyundai is even dismissed as a car not worth stealing.

Hyundai, which had long been associated with a ‘cheap car’ image in various mass media, has changed recently. In the Marvel series ‘Spider-Man’ released last year, while other vehicles are shown crushed by villains’ attacks, Hyundai’s sport utility vehicle (SUV) remains unscathed. Another Marvel series, ‘Ant-Man,’ features the Veloster as a car with excellent driving performance navigating city streets. This reflects how Hyundai’s status has evolved in the U.S., a country passionate about automobiles.

Dong-A Ilbo report on January 20, 1986, when Hyundai Pony Excel was loaded onto a ship for export to the United States

The Hyundai Pony Excel, released in 1985. It is considered the first front-wheel-drive vehicle independently developed in Korea.

In January 1986, Hyundai entered the U.S. market by exporting the Pony Excel and has now reached a cumulative sales record of 15 million units locally. If all the Avante models sold, the best-selling car, were lined up, they would stretch 6,975 km (based on the latest model), a distance equivalent to traveling between Seoul and Busan 21 times.

It took 21 years and 6 months to reach the first 5 million sales, then 8 years and 3 months more to reach 10 million (October 2015), and another 7 years and 2 months to reach 15 million (December 2022). Randy Parker, CEO of Hyundai Motor America, said, "We are pleased to mark this year’s end with the milestone of 15 million cumulative sales."

The U.S. is considered the most competitive market among global automakers. The automotive industry developed early here, with advanced new car models and sales techniques. The high sales of relatively expensive vehicles like SUVs and pickup trucks also differentiate it from another huge market, China. The status of automakers in the U.S. market is recognized worldwide.

The Hyundai electric vehicle Ioniq 5 featured in last year's release of 'Spider-Man: No Way Home'

According to industry sources, Hyundai and Kia’s combined market share in the U.S. from Q1 to Q3 this year is estimated at about 11.1%, ranking around fifth among manufacturers. After surpassing Honda last year to move up one spot, they are now challenging Stellantis (12.3%), which ranks fourth. Stellantis owns American native brands such as Ram and Jeep.

The increase in U.S. sales indicates that Hyundai’s fundamentals as a car manufacturer?quality, price, durability, and safety?are well supported. In a product satisfaction survey by market research firm JD Power, Hyundai Motor Group placed seven models (based on combined results of top 3 in each segment), the highest number among global automakers. The company also achieves solid results in local safety evaluations and offers some of the lowest dealer incentives during sales.

Hyundai’s success in the U.S. is notable given the company’s turbulent early history. Initially, Hyundai assembled vehicles developed by Ford in the U.S., with no capacity for independent development. In the late 1970s, as development achievements like the Pony became visible, the U.S. urged Hyundai’s honorary chairman Chung Ju-yung to give up car development. Given Korea’s small domestic market and underdeveloped production infrastructure, the U.S. wanted Hyundai to be content as a mere assembly subcontractor. Chairman Chung rejected the U.S. ambassador’s ‘threat’ on the spot. In his memoirs, he cited the automotive business as the most tumultuous among his ventures, reflecting this background.

Hyundai Motor Group Chairman Chung Eui-sun’s management style, aimed at catching the times amid complex internal and external environments, also played a role. While attending high school, Chung lived at the Cheongun-dong house where the late Chung Ju-yung resided. The elder Chung often told his grandson, "You must follow the trend." Despite a sudden downturn in the once-thriving Chinese market, Hyundai quickly leveraged the U.S. market as a foothold to become the world’s third-largest automaker. The decision to build an electric vehicle-dedicated factory in the U.S. was the fastest among global automakers excluding local brands. Chairman Chung encourages employees, saying, "We were ‘followers’ in internal combustion engines, but we must be ‘first movers’ in electric vehicles."

The electrification trend, a key pillar of future mobility, has seen Hyundai take a step ahead of others. Due to high oil prices and environmental regulations, demand for electric and hybrid vehicles has increased in the U.S., and Hyundai started its electrification transition early, launching electric vehicles ahead of competitors. The dedicated electric vehicle Ioniq 5 has sold over 20,000 units this year alone. The Kona also sold about 9,000 units. Competition for second place behind Tesla has intensified among Ford, General Motors (GM), and Hyundai, which are pushing electric pickup trucks and other models.

This content was produced with the assistance of AI translation services.