- Company reports sales revenue of KRW 50.95 trillion, 8.1% increase year-over-year
- Global sales total 2.13 million units in the first half of 2019
- Operating profit at KRW 2.06 trillion; Net profit KRW 1.95 trillion
– Hyundai Motor Company announced business results for the first half of 2019, reporting an 8.1 percent and a 26 percent year-over-year increases in sales revenue and operating profit.
The y-o-y gain in revenue is largely attributable to the enhancement in overall product mix with strong SUV sales led by the Palisade and Santa Fe, as well as from currency impact. Hyundai Motor posted revenue of KRW 50.95 trillion in the first half, compared to KRW 47.15 trillion in the same period last year.
Global vehicle sales totalled 2.13 million units, compared with 2.24 million units in the same period in 2018. Total sales in the Korean market amounted to 384,113 units in the first half, increasing 8.4 percent y-o-y, led by strong sales of SUV models and new cars including the Palisade and Kona, and the all-new Sonata, one of Hyundai’s best-selling sedans introduced in March.
The company reported an operating profit of KRW 2.06 trillion for the first half, which represents a 26 percent increase over the KRW 1.63 trillion achieved a year earlier. The surge was driven by improved product mix with new SUV models, meeting solid demand for SUVs in major markets.
First half net profit (including minority interest) totalled KRW 1.95 trillion, compared to KRW 1.54 trillion a year earlier.
Hyundai Motor plans to tackle business uncertainties arising from the sluggish global economic growth, by strengthening its line-up with new models in Korea and other major markets. Hyundai will be able to offer a greater variety of SUV models, with the all-new entry SUV Venue introduced in July and Genesis brand’s first ever SUV model awaiting global rollouts in the second half of this year.
The company will further streamline production, sales and other capabilities in its regional headquarters to better tailor products and services to the needs of different markets, while prioritizing customer value and engaging in proactive communication with markets.