Hyundai Motor has unveiled a corporate strategy based upon raising the quality of its vehicles to combat the global economic slowdown, a report said today (12 December).

According to the Korea Herald, the plan was drawn up at a two-day conference this week, and was attended by over 100 Hyundai employees and executives working in quality-related fields

The paper said the plan, which is called the Creative Quality Management strategy, includes targets to raise its vehicle quality to one of the top three manufacturers in the world in three years.

The company also wants to become one of the top five carmakers in terms of quality as seen by the consumers within the next five years.

Earlier this month, Hyundai Motor said it had started cutting daily overtime at all domestic plants, the first such company-wide cuts since the 1998 Asian financial crisis.

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The move will cut 20,000 vehicles, about 13% of Hyundai Motor’s average domestic monthly production of 150,000.  It had earlier halted weekend overtime.