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THE INVESTOR]
Hyundai Motor, the world’s fifth-largest carmaker, said it posted second-quarter operating profit of 1.76 trillion won (US$1.54 billion), up 0.6 percent on-year. From the first quarter of 2016, operating profit rose 31.2 percent, the carmaker said on July 26.
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Hyundai Motor Group headquarters |
Net profit for the second quarter fell 1.5 percent on-year to 1.76 trillion won. Sales, however, rose 8.1 percent to 24.67 trillion won. In total Hyundai sold 1,285,860 units during the cited period.
“An improved sales mix, combined with increased car finance revenues helped bolster the bottom line in the second quarter,” Hyundai Motor said in a statement.
For the first six months of the year, however, operating profit fell 7 percent to 3.14 trillion won. Sales were at 47.27 trillion won, up 7.5 percent on-year, while net profit fell 6.4 percent to 3.53 trillion won.
Hyundai sold a total of 2,393,241 units up until June. Locally, it sold 350,006 units -- down 4.4 percent on-year -- while it sold 1.8 percent less units of 2,043,235 overseas.
“Factors such as sluggish emerging market sales and uncertainties in the global economy are of concern, but the company plans to promote the high-end Genesis brand and introduce more SUVs in the second half for better profit margins,” Korea’s largest carmaker said.
By Kim Ji-hyun (
jemmie@heraldcorp.com)
