Hyundai sold 2,49 million vehicles worldwide in first half of 2014
Hyundai Motor Company sold 2 495 837 new vehicles globally during the first half of this year – a 4,4% increase from a year earlier. In Korea, Hyundai Motor’s 345 709 units sold was 6,2% up from a year ago, mainly due to robust sales of the recently launched all-new Genesis and Sonata, while its overseas sales of 2 150 128 units rose by 4,1% compared to the same period a year ago.
In spite of strong sales of its new models and cost savings, a strong Korean won led to a 5,8% decrease in operating profit, compared to the same period last year.
For the first six months of 2014, sales revenue declined 0,3% to 44,40 trillion won (auto: 36.19 trillion / finance and others: 8.21 trillion) from a year earlier. Despite increased sales and an improved product mix, the strong won against the US dollar caused operating profit and net profit to fall 5,8% and 5,1% to 4,03 trillion won and 4,38 trillion won (including non-controlling interest) respectively.
Hyundai Motor forecasts that an unfavorable business environment will continue in the second half, with uncertainties surrounding the global auto industry.
In order to overcome such difficulties, Hyundai Motor will enhance customer confidence by further strengthening its quality management as well as enhancing its brand power to reinforce fundamentals for future growth. In particular, Hyundai Motor will manage the quality of its products from the development stages and strengthen internal training programs to secure top-tier competitiveness.
Hyundai Motor’s efforts on quality management have been proven by a variety of third-party agencies. To name a few, the company’s all-new Genesis and Sonata were rated as one of the safest cars on the road by the Insurance Institute for Highway Safety’s (IIHS) crash tests in America, while Hyundai Motor was also the highest-ranked non-premium brand in the JD Power 2014 Initial Quality StudySM (IQS), marking the first time a nameplate has ranked highest among non-premium brands in both APEAL and IQS in the same year.
For the remaining of the year, Hyundai Motor will stay focused on increasing sales and securing profitability by cutting costs and responding efficiently to regional demands with its latest products.