Also, that same year, Hyundai offered a new plan, promising consumers a ten year, 100,000 mile warranty.The conglomerate was formally established as Hyundai Togun in 1947 by Chung Ju-yung.
Chung had been a bit of an entrepreneur, previously owning a rice shop in Seoul that was later shutdown by an interim Japanese government for rationing, as well as an auto repair shop that helped pave the way for the Hyundai Auto Service to be established in 1946. Hyundai Togun focused primarily on construction, so the name was changed to Hyundai Construction in 1950. Following the Korean War, Hyundai became one of the go-to companies for post-war reconstruction. It worked on many projectsincluding the first Han River Bridgeand by 1960 became one of South Koreas leading construction companies. In 1967, the Hyundai Motor Company was established as a subsidiary of Hyundai Construction in an agreement with Ford to assemble the Ford Cortina (and later a few trucks) in South Korea. Known as the Pony, it was a rear-wheel drive subcompact car that offered a 1.2L four-cylinder engine with 55 horsepower and a 1.4L four-cylinder engine with 68 horsepower. The Pony went on to be the first mass-produced car in South Korea. It was also Hyundais only offering, but 302,000 were exported all over the world to countries ranging from Ecuador to Canada. In 1984 it become one of the most popular cars in the Canadian market, but eager US exports were halted upon failure to reach US emission standards. The Hyundai Excel, as it was known, entered a growing subcompact class that predominantly consisted of foreign make cars. It was the perfect niche to get Hyundai started overseas, as most manufactures neglected the entry-level market in favor of bigger, faster, plush cars. Hyundai Construction Parts Online Catalog Manual And AutomaticThe Excel came with options for both manual and automatic transmissions, as well as rear-wheel drive and a four-cylinder engine. It was praised for its economical features and low price tag, but reliability problems rapidly marred Hyundais reputation. This may have been due to their established reputation at the time, or it may have been due to the Sonatas appearance. Its second generation, major redesign came at the behest of US buyers that changed it to a more conformist, aerodynamic style, which helped keep the Sonata and Hyundai relevant. Now one of Hyundais more popular models, the Sonata has gone through a wave of redesigns since its inception. In the early 90s, Hyundai decided to focus on manufacturing its own engine and transmission systems. ![]() Hyundai Construction Parts Online Catalog How To Build QualityThese lead to creations such as the Alpha engine, and would give Hyundai a bit more control over its public perception by learning how to build quality vehicles with its own technology. Apart from that, it was also a trendsetter with the electric car, offering an all-electric version of the Sonata in 1991. Unfortunately, the onslaught of the 1997 Asian Financial Crisis left many Korean chaebols in turmoil and debt, and in order to help restore the weak economy, the Korean government released restructuring programs. This caused the Hyundai Group to spin off many of its subsidiaries into independent businesses. While the Hyundai Motor Company remained, it wouldnt last for long. ![]() When the Hyundai Motor Company separated from the Hyundai Group in 2000, it established the holding company Hyundai Motor Group for the two auto companies.
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