For immediate release
6 June 2005
HYUNDAI TO MOVE TO MANUFACTURER
OWNERSHIP IN THE UK
Hyundai Car UK (HCUK) is in discussions with Hyundai Motor Europe (HME) about
transferring the control of distribution of Hyundai vehicles in the UK to HME, with effect
from the beginning of July.
This move follows on from the recent acquisition of HCUK’s parent company, RAC plc, by
Aviva plc and reflects HCUK’s success in growing sales in the UK to around 1.5% market
share.
Indeed in 2004, Hyundai achieved its best year ever with a 17% increase in sales year
on year in an otherwise flat market and total sales of 37,600 units.
Under the direct ownership of HME, based in Frankfurt, Germany, Hyundai will be driving
to further increase its sales in the UK to support its ambition to become a top five global
automotive company by 2010.
Commenting on the transition, HCUK Managing Director, David Walker, said: “During RAC
plc’s (formerly Lex Service plc) period of ownership, we have significantly grown the
Hyundai business in the UK, and have laid a very firm foundation for its continuing growth
and success in the future.
All the team at Hyundai are proud to have created a very
successful business which is in very good shape.”
more…
Hyundai to move to manufacturer ownership in the UK…2
For existing and future Hyundai customers the move should mean an even greater level of
support and commitment from the world’s seventh largest automotive manufacturer.
Existing owners’ warranties will be unaffected and Hyundai will remain the only car maker
in the UK to offer an unlimited mileage fully transferable five year warranty across its
entire range of vehicles.
Furthermore, the move will see renewed commitment to the ongoing development of the
capability and performance of Hyundai’s UK retail network.
Negotiations about the transfer of the business to HME are ongoing.
However, it is
expected that all the existing staff, based at the head office in High Wycombe and Import
Centre at Tilbury, will transfer to the new business, with the exception of David Walker,
Managing Director, John Lawrence, Sales Director and Claire Balmforth, HR and Operations
Director.
Ends…
For further information:
Tim Barfoot, HCUK PR Manager
Direct line
-
01494 428646
Mobile
-
07798 854028
Email
-
tim.barfoot@hyundai-car.co.uk
Notes to Editors
HCUK has been in existence since 1994. International Motors Group (IMG) first imported
Hyundai cars into the UK in 1982. Ownership of the UK franchise passed to Lex Service
plc (now RAC plc) with the formation of HCUK at the end of 1994.
Hyundai has made clear its aims to be a global top five automotive manufacturer. It is
market leader in Russia, India, China and Greece. And in the past 12 months alone
Hyundai has started work on a new European headquarters for HME in Frankfurt,
Germany, and opened a new state-of-the-art billion dollar manufacturing plant in America
as well as a new multi-million dollar US vehicle proving ground in the Mojave Desert.
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