- Hyundai Motor sells 1.23 million units worldwide for 2014 first quarter - Sales revenue and net profit stand at 21.65 trillion won and 2.03 trillion won, respectively
April 24, 2014 - Hyundai Motor Company today announced first-quarter business results for 2014. Sales and operating profit increased as the launch of the all-new Genesis led demand in Korea, while continued improvement in product mix and brand awareness boosted sales in global markets.
For the first three months of the year, the company sold a total of 1,227,467 units worldwide, a 4.8 percent increase compared to the same period last year, and its sales revenue also increased 1.3 percent. Sales in Korea increased 4.5 percent to 160,675 units, while sales outside Korea also rose 4.8 percent to 1,066,792 units (Export: 311,996 / Overseas plants: 754,796) from a year earlier.
Sales revenue rose to 21.65 trillion won (Auto: 17.72 trillion / Finance and others: 3.93 trillion) from the same period last year, and operating profit also went up 3.7 percent to 1.94 trillion won. However, its net profit fell 2.9 percent to 2.03 trillion won (including non-controlling interest) mainly due to unfavorable external factors such as a stronger won.
Hyundai Motor forecasts that the economic uncertainty surrounding the auto industry is likely to continue, backed by slower demand in China, the world’s largest automaker, and other emerging markets. Competition in the Korean market is also forecast to intensify.
Despite the difficult business environment, Hyundai Motor will continue to strive for both sales expansion and profit increase through the launch of innovative products such as the recently-launched all-new Genesis and next-generation Sonata. The company will also strengthen quality management and cost savings.
To maintain its upward growth momentum, Hyundai Motor will continue introducing strategic models in the overseas markets at the right times. In addition, Hyundai Motor, as an official partner of the 2014 FIFA World Cup Brazil™, will carry out effective marketing activities during the tournament to secure its position as a major global player.
In order to create new growth initiatives for the future, the company will accelerate development of new technologies. In particular, Hyundai Motor will strengthen its competitiveness in safety features and fuel economy, focusing more on 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.
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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.