On October 10 of this year, a delegation of specialists from Hyundai Motor Company arrived at the Lutsk Automobile Plant, which is part of the "Bohdan" Corporation, to set up the conveyor line for the production of Hyundai TM vehicles. \n \nHyundai Motor Company's decision to organize vehicle production at the facilities of the Lutsk Automobile Plant was driven by the need to ensure proximity to the consumer. The expansion of the Hyundai concern's production geography is being carried out as part of the brand's global development strategy and is intended to satisfy the growing demand for vehicles of this TM in Eastern Europe. \n \nAs of today, the Hyundai concern controls 2.6% of sales in Europe. By 2010, Hyundai Motor Company set the goal of entering the top five global automakers. \n \nProduction of Hyundai TM vehicles in Lutsk will be carried out entirely from branded components supplied by Hyundai Motor Company, with constant quality control at all stages of production by representatives of the concern. \n \nAfter assessing the technical capabilities of the Lutsk Automobile Plant and analyzing the quality of the products produced, Hyundai Motor Company, together with the official distributor of the brand, LLC "Hyundai Motors Ukraine," decided to provide a 5-year warranty service for vehicles produced at LuAZ. \n\n"By reducing customs duty costs, we will be able to cut the price by an average of 5%," assured Viktor Oranskyi, director of "Hyundai Motors Ukraine." "This is a significant discount for the consumer, since after the increase in import duty we kept prices at the previous level," he added. \n\nAccording to the production department of the "Bohdan" Corporation, with the increase in customs duties on finished vehicles imported into Ukraine and the simultaneous reduction of duties on imported components, domestic production becomes the only chance to maintain prices for finished products. \n\nThe Lutsk Automobile Plant was chosen by Hyundai Motor Company as a production site due to the plant's technical capabilities meeting world standards for vehicle production. According to the head of the Hyundai Motor Company delegation, LuAZ has 50 years of experience in vehicle production, which speaks to the reliability of the manufacturer. "Not every automaker can boast a half-century history of vehicle production," he added. \n\nThe agreement allowing vehicle production in Lutsk was signed between Hyundai Motor Company and the Lutsk Automobile Plant at the end of the second quarter of this year. \n