Celebrating 20 years, Komoco motors into future
Komoco Motors, the exclusive distributor of South Korea-based Hyundai in Singapore, marked its second decade in the city-state last year, all geared up to take on new challenges after having distinguished itself in this very discriminating market.
Being the first company to successfully market a major South Korean product in Singapore, Komoco Motors encouraged the further influx of South Korean brands to what remains one of the most prosperous and savvy consumer markets in Asia.
Recognizing a long-term and profitable venture, company co-founder and Managing Director Teo Hock Seng approached the South Korean automaker in 1986 to obtain a distributorship arrangement, which in a matter of just two years brought accolades from the local industry.
"We had to have a certain faith in the product we were looking at, and I found that faith in Hyundai," Teo recalled. "We saw it as a people's car and a reliable workhorse that was within people's budget. In just two years, we won the 1988 Distributor of the Year award in Singapore. So, we were clearly on the right track from the start."
In 1989, Komoco Motors purchased its own premises for a showroom, a site that the company redeveloped in 1996 into a naturally lit, open-plan selling space that highlights Hyundai's popular range of products.
Hyundai is today the fourth most popular car in Singapore. Teo expects to close the gap on the competition with the unveiling of Hyundai's latest model, the Avante.
A high-performance luxury sedan that offers power as well as fuel efficiency, the Avante is expected to impress domestic consumers, especially those looking for a comfortable and efficient car that projects a stylish image at the same time.
Avante, Hyundai's latest model |
"Singaporean motorists have a consistent awareness of what the market has to offer," Teo explained. "The unique aspect of the motor trade in Singapore is that people know what they want. This sophistication is what makes Singapore an important market for introducing the latest models."
Due to the high expectations of Singaporean consumers, Teo understands the need to emphasize customer service and takes pride in the company's after-sales relationships.
Komoco, which opened a new servicing center in the eastern part of the country last year, provides spare parts and services at low prices to ensure long-term relationships with Hyundai owners.
And Teo is banking on a long-term future.
"The fact that Singapore's biggest taxi operator, ComfortDelgro, bought Hyundais for the first time in the history of Singapore's taxi industry is enough to tell the world that Hyundai and Komoco Motors are here to stay," he said.
Aside from a commitment to customers, Teo has displayed his commitment to Singapore through another of his passions - football. The executive is chairman of local premiership club Tampines Rovers, the S-League champions for 2004 and 2005 and the winner of the ASEAN Cup in 2005.
For more information, please visit: www.komoco.com.sg
(China Daily 03/12/2007 page2)
