AUTO INDUSTRY NEWS

Hyundai reports strong sales for first half of 2011

Hyundai reports strong sales for first half of 2011 image

Text: / Photos: | posted August 04, 2011 01:12

A strong rise

Hyundai Motor Company, recently announced record sales figures of 1,958,218 vehicles sold (domestic: 343,896 / overseas: 1,614,322) worldwide in the first six months of 2011; up 11 percent from the same period a year earlier.

Hyundai attributes the strong rise in global sales to the introduction of new, competitive products around the world. As a result, the Korean carmaker posted solid earnings with a net profit up by 41.3 percent to 4.18 trillion won (USD 3.94 billion) in the first half from a year earlier. Hyundai Motor's operating profit stood at 3.95 trillion won (USD 3.72 billion) on sales revenues of 38.32 trillion won (USD 36.14 billion). Sales revenues increased 20.2 percent due to a rise in sales volume.

Sales in the Korean domestic market and overseas markets (export: 563,072 / overseas plants: 1,051,250) all rose, led by new products such as the new Azera, Accent and Elantra.

Hyundai says it will continue to focus on qualitative growth by strengthening its product competitiveness and introducing innovative marketing programs. The company will also accelerate the development of its eco-friendly car line up, including vehicles with high fuel efficiency and low emissions, to give consumers a wider range of choices amidst high fuel prices.