The Hyundai Motor Co. is an Asian car manufacturer headquartered in Seoul, South Korea. Founded in 1967 by Chung Ju-Yung, the young company is one of the fastest growing automakers in the world ranking as the eighth biggest automaker in the world and the fourth when you factor in the Hyundai Motor Group which is comprised of both Hyundai and its partner, Kia, of which Hyundai owns nearly 33 percent. The Hyundai Group (Kia and Hyundai) falls internationally only behind Toyota, GM and Volkswagen in terms of sales.
Hyundai didn’t enter the U.S. market until 1986 with the Hyundai Excel. It was designed by Giorgetto Giugiaro, the man who also designed the BMW M1 and other luxury cars including the Delorean. While the company is still relatively new in the states, it has seen rapid growth and tremendous success and popularity, reaching 10 million in sales in under 30 years. The most popular models are the Elantra and Sonata as they make up 50 percent of sales.
Though Hyundai has seen such rapid growth, it didn’t immediately take off in the United States. Originally, many complained that Hyundai vehicles broke down quickly, but later on with the release of new vehicles sales began to grow exponentially. Surprisingly, the first plant in the United States didn’t come until 2005 when Hyundai started a manufacturing plant in Montgomery, Alabama.
The word “Hyundai” is derived from a Korean word that essentially means “modern.” The company has always strived to be on the cutting edge of modern technology while also incorporating sleek new designs inspired by nature’s beauty and forms. Many cars, for instance, are shaped to match the movement of an ocean wave or other natural features. The Hyundai logo is an “H” that is designed to look like two people shaking hands in a business deal (the Hyundai salesman with the customer) and the surrounding oval is meant to signify the company’s global reach.
When it comes to global reach, Hyundai is right up there selling their vehicles in 193 countries through 5,000 dealerships and showrooms. And though the company is relatively young, they boast the world’s largest automobile manufacturing facility, located in Ulsan, South Korea. It is capable of producing 1.6 million units annually. In the plant, Hyundai manufactures its own steel, unlike many other companies who get their from suppliers.
Hyundai cars have won numerous awards over their short history. The 2007 Hyundai Santa Fe was deemed the safest car in that year by the IIHS (Insurance Institute for Highway Safety). And the Hyundai Elantra won car of the year at the North American International Road Show in 2012.
Hyundai holds several major sponsorships, especially in sports. They sponsor the FIFA World Cup, EUFA Euro League, and the Korea Football Association. They’ve also recently gained traction in the NFL, overtaking GM in 2015 as the official sponsor.
Hyundai AVERAGE MONTHLY INSURANCE RATES
NATIONAL AVERAGE :$122
These are actual average rates for all 50 states. The state with the cheapest average rates for this vehicle is Maine at $73, and the state with the most expensive rates is at $. The overall average is $122.
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This data is compiled from public insurance state fillings and includes the top 5 carriers, and samples a typical, middle-aged male driver.Source: Quadrant