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THE INVESTOR]
Hyundai Motor, the world’s fifth-largest carmaker, said it posted a second-quarter operating profit of 1.76 trillion won ($1.54 billion), up 0.6 percent on-year. Compared to the first quarter of 2016, operating profit rose 31.2 percent, the carmaker said Tuesday.
Sales rose 8.1 percent to 24.67 trillion won -- the highest in terms of second-quarter figures. 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 until June. Locally, it sold 350,006 units -- down 4.4 percent on-year -- and 2,043,235 units overseas, down 1.8 percent.
“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)
