Hyundai Motor Announces First Half Earnings

  • First Half Net Profit Doubles to 2.5 Tln Won
  • Strong Global Sales, New Models Boost Profits

SEOUL, Korea, July 29, 2010 - Hyundai Motor Company, South Korea’s largest automaker, sold 1,764,254 units (domestic & exports: 855,140 units, overseas plants: 909,114 units) worldwide in the first half, a 27 percent increase from a year earlier, sustaining growth momentum through its focus on quality management and global management.

Net profit more than doubled to 2.52 trillion won in the first six months of the year from 1.04 trillion won a year earlier, led by strong demand in overseas markets, improved product mix and equity gains from its overseas subsidiaries. Sales increased 27.4 percent to 18 trillion won from 14.1 trillion won a year earlier, while operating profit rose 93.1 percent to 1.57 trillion won.

Hyundai was able to post positive results due to its diversified market and product portfolio. To secure profitability, Hyundai will strengthen sales of its all-new Sonata and Tucson ix (*Names may differ in regions outside Korea), while launching several new models in the second half this year, starting with the new Avante in the domestic market. Demand in mature markets such as the U.S. also contributed to sales in the first half, while continued demand from emerging markets boosted sales further.

Established in 1967, Hyundai Motor Co. has grown into the Hyundai-Kia Automotive Group which was ranked as the world’s fifth-largest automaker since 2007 and includes over two dozen auto-related subsidiaries and affiliates. Employing over 75,000 people worldwide, Hyundai Motor sold approximately 3.1 million vehicles globally in 2009, posting sales of US$41.8 billion (including overseas plants, using the average currency exchange rate of 1,276 won per US dollar). Hyundai vehicles are sold in 193 countries through some 6,000 dealerships and showrooms. Further information about Hyundai Motor and its products are available at www.hyundai.com.

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