Hyundai Motor Announces 2015 1Q Business Results
- Hyundai Motor sells 1.18 million units worldwide in 1Q 2015
- Sales revenue and net profit totalled KRW 20.94 trillion and
KRW 1.98 trillion, respectively
April 23, 2015 - Hyundai Motor Company, South Korea’s largest automaker, announced first-quarter business results for 2015, today. Sales volume, revenue and operating profit declined from the same quarter last year, due to unfavorable external factors such as strong won against euro and currencies of developing countries.
Sales revenue declined to KRW 20.94 trillion (Auto: 16.53 trillion / Finance and others: 4.41 trillion) from the same quarter last year, and operating profit and net profit also fell to KRW 1.59 trillion and KRW 1.98 trillion(including non-controlling interest), despite continued efforts of improving model mix and cost savings.
For the first three months of the year, the company sold a total of 1,182,834 units worldwide, a 3.6 percent drop compared to the same period last year, and its sales revenue also decreased 3.3 percent. Sales in Korea fell 3.7 percent to 154,802 units, while oversea sales also decreased 3.6 percent to 1,028,032 units from the same quarter last year.
Results for 2nd quarter is likely to look brighter. The newly introduced All-new Tucson is gaining positive market response, along with strategic models like i20 and ix25, which are continuing its new model launch effect. Additional introduction of new volume selling models will refresh Hyundai Motor’s sales momentum. Furthermore, weak KRW to USD will be favorable to Hyundai Motor in regaining its profitability.
Hyundai Motor forecasts that the economic uncertainty surrounding the auto industry is likely to continue, backed by slower pace of global economic growth and increased competition amongst automakers.
In order to overcome such difficulties, Hyundai Motor will enhance its quality management as well as enhancing its brand power to reinforce fundamentals for future growth. In particular, Hyundai Motor will strengthen its competitiveness by introducing strategic local models and focusing more on fuel economy and developing innovative technologies such as eco-friendly vehicles and smart cars.
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 seven manufacturing bases and seven design & technical centers outside of South Korea and in 2013, sold 4.73 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://www.hyundaiglobalnews.com