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Hyundai Motor Announces 2019 1H Business Results

2019.07.22 14:10:00 No. 16286
Hyundai Motor Announces 2019 1H Business Results

- 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

SEOUL, July 22, 2019 – 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, respectively, in spite of continued slowdown in global economic growth.

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.

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About Hyundai Motor Company

Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services available in more than 200 countries. Employing more than 110,000 employees worldwide, Hyundai has sold more than 4.5 million vehicles globally. Hyundai Motor continues to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO, the world’s first dedicated hydrogen-powered SUV.

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Hyundai Motor Company believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.

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