Already a very big conglomerate with a diverse portfolio of companies, they went from strength to strength after they acquired KIA in the late 90s. After being their biggest domestic rival they became one of their biggest assets in research and development. It was this acquisition that played a key part in their desire to innovate, often using the KIA brand as a guinea pig, which worked well in most markets around the world.
It wasn’t always like this though, stepping back in time to the early 70s and the only car they were producing was a rebadged Ford. All that changed when they finally launched their very own “proudly made in Korea” car; the Hyundai Pony.
Not To Be Mistaken For A “Pony Car”
It was, and always intended to be a basic commuter car and the name had nothing to do with horsepower.
After rebadging cars for quite some time, they didn’t hold back when they decided to invest in making their own car. Hiring the former British Leyland executive George Turnbull to lead the project, he in turn brought in a host of experienced British engineers to put the car together. Although it will always be remembered as a Korean car, it was a true multinational project as they sourced powertrains from Japan and got the design master himself, Giorgetto Giugiaro from Italdesign involved.
Although it must be said his initial vision of a coupe version was sublime, it just was not the practical family car they needed to produce and compromises needed to be made. The final design was contemporary if not necessarily special, the car as a whole proved to be a smash hit thanks to its fantastic value.
Value For Money Option
With the stringent emissions laws in the US, the Pony could not be sold there, but a good 8 years after it was launched in Korea it made it to Canada.
When it landed, it was hardly new but it is fair to say they knew exactly what sort of product they had and marketed it as such; a bargain of a car. Up against the established Japanese brands as an import, it was just as reliable (well it had a Mitsubishi powertrain) and was well put together. Then they did what any newcomer would do, undercut everyone, selling the Pony a good $1000 cheaper than its competition. Back in the early 80s it was an unrivalled bargain, and the Canadian consumers of the time spoke with their wallets, buying the little car in huge numbers with sales exceeding 200000 units by the time it was due for replacement in 1988.
A Stepping Stone To A Bright Future
As an automotive company, this was their first real step into the wild, exporting cars all over the world and establishing their brand.
Since then they have proven that they are no “one trick Pony,” producing a long list of great quality cars that always seem to represent good value. Today they have a loyal customer base all over the world and have committed to a clean future, with plans to electrify their entire range by 2030.