Hyundai Motor Company, South Korea’s largest automaker, sold 1 764 254 units (Korean Market & exports: 855,140 units, overseas plants: 909,114 units) worldwide in the first half of 2010, a 27% increase from a year earlier, sustaining growth momentum through its focus on quality and global management.
Net profit more than doubled to $2.2 billion (R16.1 billion) in the first six months of the year from $1 billion (R7.3 billion) a year earlier, led by strong demand in overseas markets, improved product mix and equity gains from its overseas subsidiaries. Sales increased 27.4% to $15.5 billion (R113.5 billion) from $12.2 billion (R89 billion) a year earlier, while operating profit rose 93.1% to $1.35 billion (R9.88 billion).
Hyundai was able to post positive results due to its diversified market and product portfolio. To secure profitability, Hyundai will strengthen sales of its all-new next generation Sonata and new Tucson - the iX35, while launching several new models in the second half this year, starting with the next generation Elantra in the Korean market. Demand in mature markets such as the U.S. also contributed to sales in the first half, while continued demand from emerging markets boosted sales further.
According to Stanley Anderson, Marketing Director of Hyundai SA; “HMC’s continued success can be attributed to its unique business philosophy underpinned by energy and drive. During the recession Hyundai was one of the very few manufacturers to launch new models, which is unheard of in such a market, and launched three new models during this period. As an emerging market this, coupled with the planned launches for this year, has certainly given us the necessary momentum to increase sales and drive business proficiency with minimal pressures while markets correct themselves.”
STORY BY HYUNDAI
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