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Hyundai Motor Announces 2016 1H Business Results

2016.07.26 17:42:00 No. 6300
Hyundai Motor Announces 2016 1H Business Results
 
 



 
- Hyundai Motor sells 2.39 million units worldwide in the first half of 2016
- Sales revenue and operating profit totalled KRW 47.03 trillion and KRW 3.10 trillion, respectively
- Company to improve 2H business results by boosting sales of SUVs, newly launched IONIQ and luxury brand GENESIS models


 

 
 
July 26, 2016 - Hyundai Motor Company, South Korea’s largest automaker, today announced its business results for the first half of 2016. Sales volume and operating profit declined from the same period last year due to export decrease as well as weak currencies and economic recession in emerging markets.
 
For the first six months of 2016, sales revenue increased 7.5 percent to KRW 47.03 trillion (auto: 36.66 trillion / finance and others: 10.37 trillion) from a year earlier owing to sales increase of SUVs and GENESIS models. Operating profit fell 7.0 percent to KRW 3.10 trillion and net profit showed a 6.4 percent decrease to KRW 3.53 trillion. 
 
Hyundai Motor Company’s cumulative global sales for the first six months totalled 2,393,241 units (Korea: 350,006 / overseas: 2,043,235), a year-on-year decrease of 0.9 percent. Slowing growth in emerging markets and impact from currency fluctuations have been the main culprit for the global sales drop.
 
In the second quarter alone, sales revenue posted KRW 24.68 trillion with global sales of 1,285,860 units and operating profit increased 0.6 percent to KRW 1.76 trillion, from a year earlier.
 
Hyundai Motor forecasts that an unfavorable business environment is likely to continue in the second half. In particular, the company anticipates further uncertainties in business conditions after the BREXIT referendum which took place last month.
 
Nevertheless, Hyundai Motor will continue its effort to focus on strengthening competitiveness and product quality in the global automotive market. To do so, Hyundai Motor is planning to boost sales with SUVs and strategic models.
 
In addition, Hyundai Motor will strengthen growth momentum with the luxury brand GENESIS models, G90 and G80, and further develop state-of-the-art technologies within new models such as the IONIQ which is offered in three eco-friendly powertrain (Hybrid, Electric, Plug-in Hybrid).
 
Hyundai Motor will continue its cooperation with suppliers and actively carry out more values to customers and stakeholders alike. Hyundai Motor also strives to build a more shareholder-friendly environment by increasing transparency and shareholder’s value.

 


 
 
About Hyundai Motor
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond. The company leads the Hyundai Motor Group, an innovative business structure capable of circulating resources from molten iron to finished cars. Hyundai Motor has eight manufacturing bases and seven design & technical centers worldwide and in 2015 sold 4.96 million vehicles globally. With more than 110,000 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 and IONIQ, the world’s first model with three electrified powertrains in a single body type.
 
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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