Hyundai Motor Announces 2014 Business Results
• Hyundai Motor sold 4.96 million units worldwide throughout 2014
• Sales revenue and net profit stand at 89.26 trillion won and 7.65 trillion won,
January 22, 2015 – Hyundai Motor Company, South Korea’s largest automaker, today announced its 2014 full-year business results. The company’s sales volume rose with the help of strong sales of new models including the all-new Genesis and Sonata, while profits fell mainly due to unfavorable external factors such as a stronger won.
For the year 2014, sales revenue rose 2.2 percent to 89.26 trillion won (automotive: 72.31 trillion / finance and other: 16.95 trillion) from a year earlier. However, operating profit and net profit fell 9.2 percent and 14.9 percent to 7.55 trillion won and 7.65 trillion won (including non-controlling interest), respectively, despite increased sales growth and improved product mix.
Hyundai Motor sold a total of 4,961,877 units globally (Korea: 683,532 / overseas: 4,278,345), a 4.8 percent increase from a year earlier. In Korea, Hyundai Motor’s sales went up 6.7 percent, and its overseas sales also rose 4.6 percent from the same period a year ago.
In the fourth quarter alone, sales revenue rose 7.5 percent to 23.57 trillion won (automotive: 18.97 trillion / finance and other: 4.60 trillion) with global sales of 1,337,040 units. However, operating profit decreased 7.6 percent to 1.88 trillion won from a year earlier.
Hyundai Motor forecasts that the economic uncertainty surrounding the auto industry is likely to continue this year, based on growing geopolitical risks in emerging markets and slowing demand. Competition in the global auto market is also expected to intensify.
Amid this uncertain business environment, Hyundai Motor will focus on enhancing product competitiveness and customer satisfaction, while the Hyundai Motor Group successfully carries out its large-scale investment plans announced earlier this year.
This year, Hyundai Motor aims to sell 5.05 million vehicles globally (Korea: 690,000 / overseas: 4,360,000). In order to achieve this, it plans to launch a variety of new models to more actively respond to customers’ needs and accelerate its efforts in developing innovative technologies such as eco-friendly vehicles.
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 2014, 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://www.hyundaiglobalnews.com
Global PR Team
+82 (0)2 3464 2152 ~ 2160
# # #