Mexican Media Brands
Hyundai’s Net Profit Soars 23%
A richer mix of SUVs gave Hyundai Motor Co. hefty second-quarter gains in revenue and operating profit—and its sharpest jump in net profit in more than seven years.
#economics
Share
A richer mix of SUVs gave Hyundai Motor Co. hefty second-quarter gains in revenue and operating profit—and its sharpest jump in net profit in more than seven years.
The company’s unit sales for the period climbed 7% to 1.10 million vehicles, offsetting a 3% decline in the first quarter. Revenue grew 9% to 27 trillion won ($22.9 billion), aided by a 6% weaker won against the U.S. dollar.
Hyundai’s operating profit in April-June jumped 30% to 1.2 trillion won ($1 billion). Net profit climbed 23% to 1 trillion won ($849 million). The company vows to take further cost-cutting actions in production, sales and regional headquarters operations.
Through the first half of 2019, Hyundai’s unit sales declined 5% to 2.13 million vehicles worldwide. But revenue for the six-month period grew 8% to 50.9 trillion won ($43.2 billion), and net profit jumped 27% to 2 trillion won ($1.7 billion).
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.