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In 1967, Hyundai Motor Company (HMC) was created in South Korea. Cooperating with Ford Motor Company in 1968, HMC produced its first automobile model followed by its first Korean car in 1975. In 1986, HMC created Hyundai Motor America (HMA) and entered the United States with one affordable car model. It enjoyed brisk sales in the first year but the car's poor quality resulted in declining sales over the next two years. Thus in 1988, they started long-term investment in the research of its automobiles' quality, design and production. This mirrors "hyundai", which means "modernity" in Korean. The company raked in more than US $57.2 billion in its 2004 Korean sales, and more than 2.5 million vehicles sold internationally in 2005. HMA currently has production plants and research & development centers in North America, with its current headquarters in Fountain Valley, California. The Hyundai logo, a slanted "H" representing two people - the company and client - shaking hands, is seen on all its sedans; sport utility vehicles; coupes, and concept cars."
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