How Does Hyundai Motor Profit Surges Amid Sales Jump?
Thu-Oct 22, 2009 Seoul (South Korea) / Associated Press Hyundai Motor Co, South Korea’s largest automaker and a growing force in the global industry, said third-quarter net profit more than tripled to a record high amid sharply higher sales. Hyundai Motor said in a regulatory filing on Thursday that it earned 979.2 billion won ($827.3 million) in the three months ended September 30. It posted net profit of 264.8 billion won a year earlier. Hyundai spokesman Ki Jin-ho said the figure was an all-time quarterly high. It exceeded the previous record of 811.85 billion won set during the second quarter of this year. The Ulsan, South Korea-based maker of the Elantra and Sonata sedans and the luxury Genesis said sales during the quarter rose 33.8 percent to 8.1 trillion won from 6.1 trillion won a year earlier. The automaker’s global auto sales in the third quarter surged 41 percent to 824,181 vehicles from the year before. For the first nine months of 2009, sales rose 7.5 percent 2.23 million
Hyundai Motor Co., South Korea’s largest automaker and a growing force in the global industry, said third-quarter net profit more than tripled to a record high amid sharply higher sales.Hyundai Motor said in a regulatory filing Thursday that it earned 979.2 billion won ($827.3 million) in the three months ended Sept. 30. It posted net profit of 264.8 billion won a year earlier.Hyundai spokesman Ki Jin-ho said the figure was an all-time quarterly high. It exceeded the previous record of 811.85 billion won set during the second quarter of this year. The Ulsan, South Korea-based maker of the Elantra and Sonata sedans and the luxury Genesis said sales during the quarter rose 33.8 percent to 8.1 trillion won from 6.1 trillion won a year earlier.The automaker’s global auto sales in the third quarter surged 41 percent to 824,181 vehicles from the year before. For the first nine months of 2009, sales rose 7.5 percent to 2.23 million.The company said it took 5.5 percent of global market share i
