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| April 29 |
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Hyundai Ties for Second Place, Is Most Improved Brand and
Corporation in 2004 J.D. Power and Associates Initial Quality Study |
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- Hyundai Sonata Is Highest Ranked Entry-Level Midsize Car -
(Seoul, Korea) Hyundai Motor America moved up 8 rankings from last year and finished in a tie for second place in the most recent J.D. Power and Associates Initial Quality Study (IQS) announced today. Hyundai Motor America is also the most improved in the 2004 IQS Corporate Ranking,
In the IQS Nameplate ranking, Hyundai is also the most improved nameplate with an improvement of 29 percent, moving from 23rd position in 2003 up to seventh position in 2004.
In addition, the Hyundai Sonata midsize sedan was named the 2004 Award recipient in the J.D. Power and Associates IQS for having the highest initial quality in the Entry Midsize Car category. In the Entry Level Sport Utility Vehicle segment, the Hyundai Santa Fe finish in second place and in the Compact Car segment, the Hyundai Accent also finished in second place. Every model in Hyundai's U.S. model lineup is now ranked above industry average in IQS.
"The change really started with Hyundai Motor Company Chairman Mong Koo Chung. Quality is his mantra," said Hyundai Motor America President and CEO Robert F. Cosmai. "The Chairman is very happy and pleased with these outstanding results, but he points out that this is just the first step and that we are just getting started."
Over the past five years Hyundai has improved in IQS ranking at double the industry average. While the auto industry in general has improved 23 percent in the measurement of Problems Per 100 Vehicles (PP100) Hyundai has improved at more than double that rate - an outstanding 50 percent. When measured by nameplate, Hyundai has improved by 62 percent over the past five years and is now ranked well above the industry average.
This marks the first time that Korean-branded vehicles have outpaced both European-and domestic-branded vehicles in initial quality.
IQS measures a broad range of quality problems, heavily weighted toward defects and malfunctions, quality of workmanship, drivability, human factors in engineering (ease of use) and safety-related problems. The 2004 Initial Quality Study is based on responses from more than 51,000 vehicle purchasers and lessees of new 2004 model year cars and trucks, who were surveyed after 90 days of ownership.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com |
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