Hyundai Motor Announces 2015 Business Results
January 26, 2016 – Hyundai Motor Company, South Korea’s largest automaker, today announced its 2015 full-year business results. Sales volume and sales revenue increased while operating profit declined from the same period last year, mainly due to weak cross currencies, increased promotional activities due to heightened competition amongst automakers and profit decline from non-auto business.
* Refer to chart attached for details of 2015 Business Result
Hyundai Motor forecasts that an unfavorable business environment is likely to continue in 2016. Emerging markets including China will continue posting slower growths. Also growing geopolitical risks and low oil price will lengthen economic stagnation, leading to steeper competition amongst automakers.
Nevertheless, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to strengthen state-of-the-art technology development and securing eco-friendly technology leadership.
Hyundai Motor aims to sell 5.01 million vehicles globally (Korea: 693,000 / overseas: 4,317,000) in 2016. It plans to achieve its goal with new model launches like All-new Elantra, Brand-new IONIQ offered in three eco-friendly powertrain (HEV, PHEV, Full-EV) and Hyundai Motor’s luxury brand Genesis G90 (EQ900 in Korea) large luxury sedan in 2016 to major global markets.
Hyundai Motor will continue strengthening its cooperation with suppliers and actively carry out Corporate Social Responsibilities to create more values to customers and stakeholders alike.
Cautionary Statement with Respect to Forward-Looking Statements
In this release and in related comments by Hyundai Motor’s management, our use of the word “expect,” “anticipate,” “project,” “estimate,” “forecast,” “objective,” “plan,” “goal,” “outlook,” “target,” “pursue” and similar expressions is intended to identify forward looking statements.
The financial data discussed herein are presented on a preliminary basis before the audit from Independent Auditor; final data will be included in HMC’s Independent Auditors report. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, actual results may differ materially due to numerous important factors. Such factors include, among others, the following : change in economic conditions, currency exchange rates or political stability; shortages of fuel, labor strikes or work stoppages; market acceptance of the corporation’s new products; significant changes in the competitive environment; changes in laws, regulations and tax rates; and the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and time planned by management.
We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made.
About Hyundai Motor
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond. The company, which leads the Hyundai Motor Group, an innovative business structure capable of circulating resources from molten iron to finished cars, offers top-quality best-sellers such as Elantra, Sonata and Genesis. Hyundai Motor has eight manufacturing bases and seven design & technical centers worldwide and in 2015, sold 4.96 million vehicles globally. With almost 100,000 employees worldwide, Hyundai Motor continues to enhance its product line-up with localized models and strives to strengthen its leadership in clean technology, starting with the world’s first mass-produced hydrogen-powered vehicle, ix35 Fuel Cell.
More information about Hyundai Motor and its products can be found at:
http://worldwide.hyundai.com or http://globalpr.hyundai.com
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