Under factory ownership, Hyundai said it was confident of doubling its yearly sales by 2008 to around 80,000 cars, securing more than 3% UK market share.
New managing director of HMUK, Ray Pope, formerly finance director of HCUK, says: "The change from independent importer to manufacturer owned operation brings a number of key benefits for Hyundai customers in the UK. Chief among these will be our ability to invest much more, both in terms of money and time into ensuring we have the best retail network of any manufacturer in the UK.
"Ultimately, our customers’ relationships are primarily with their dealer and it is here we will be focusing to ensure that the Hyundai experience is second to none in the UK car market."
Previously, the rights to distribute Hyundai vehicles in the UK belonged to the RAC, which had owned the High Wycombe-based distributorship, Hyundai Car (UK) Ltd, since 1993.
When Aviva, owner of Norwich Union Insurance, announced plans earlier this year to buy RAC, a deal that has since been completed, Hyundai Motor Company in Korea began negotiations with Aviva to take control of the distribution of its own vehicles in the UK.
Commenting on the formation of HMUK, Ike Oh, president of Hyundai Motor Europe, says: "HMUK will strengthen the Hyundai brand presence in the UK and tailor the specifications of our vehicles more precisely to the particular needs and wants of UK customers."