News Column

Hyundai Record Sales Exceed Analysts' Expectations

Oct. 25, 2012
2012 Hyundai Alantra
2012 Hyundai Alantra

South Korean car manufacturer Hyundai Motor Co posted higher-than-expected profits on Thursday, exceeding analysts' expectations, despite the global economic downturn.

Hyundai sold nearly 3.2 million vehicles in the first three quarters.

South Korea's largest carmaker posted third-quarter net income that was up 13 per cent to 2.17 trillion won (2 billion dollars), from 1.92 trillion won a year earlier.

The company said it expected full-year sales to be higher than forecast at about 4.38 million units.

The company was in a particularly strong position in China, a spokeswoman said in Seoul. Chief financial officer Lee Won Hee said the forecast for sales in the neighbouring country for the year was projected to be in the range of 820,000-830,000 vehicles.

Last year, Hyundai sold just under 4.06 million vehicles - crossing the 4-million threshold for the first time.

For more coverage on the automotive industry, please see HispanicBusiness' Auto Channel

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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