Hyundai Motor Company achieved a new revenue milestone in the second quarter, with a 6.6 percent increase from the previous year, totaling 45.02 trillion won ($32.6 billion). The notable growth was attributed to a stronger sales mix, driven by the increasing popularity of hybrid vehicles, which accounted for a double-digit proportion of sales for the first time, as well as favorable currency exchange rates. Additionally, the company reported record-breaking operating profits and a surge in net profit, with global vehicle sales reaching 1,057,168 units. While domestic sales in Korea decreased, international sales outside Korea rose by 2 percent, fueled by the success of new models like the Santa Fe, Santa Fe Hybrid, and the refreshed Genesis GV80. Hyundai's eco-friendly vehicle sales slightly increased, with hybrid models experiencing significant growth, offsetting a decline in electric vehicle sales. The company plans to continue diversifying its hybrid and electric vehicle lineup, including the introduction of new models such as the sub-compact EV, Inster, and expanding the Ioniq series. To maintain its market position, Hyundai aims to focus on regional and product mix, and is closely monitoring potential challenges such as the impact of the US presidential election and trade tariffs. Furthermore, Hyundai announced plans to boost hybrid vehicle production at its Hyundai Motor Group Metaplant America in Georgia. Details of the hybrid production adjustments will be provided at the CEO Investor Day on Aug. 28.
Hyundai Motor Company achieved a new revenue milestone in the second quarter, with a 6.6 percent increase from the previous year, totaling 45.02 trillion won ($32.6 billion). The notable growth was attributed to a stronger sales mix, driven by the increasing popularity of hybrid vehicles, which accounted for a double-digit proportion of sales for the first time, as well as favorable currency exchange rates. Additionally, the company reported record-breaking operating profits and a surge in net profit, with global vehicle sales reaching 1,057,168 units. While domestic sales in Korea decreased, international sales outside Korea rose by 2 percent, fueled by the success of new models like the Santa Fe, Santa Fe Hybrid, and the refreshed Genesis GV80. Hyundai's eco-friendly vehicle sales slightly increased, with hybrid models experiencing significant growth, offsetting a decline in electric vehicle sales. The company plans to continue diversifying its hybrid and electric vehicle lineup, including the introduction of new models such as the sub-compact EV, Inster, and expanding the Ioniq series. To maintain its market position, Hyundai aims to focus on regional and product mix, and is closely monitoring potential challenges such as the impact of the US presidential election and trade tariffs. Furthermore, Hyundai announced plans to boost hybrid vehicle production at its Hyundai Motor Group Metaplant America in Georgia. Details of the hybrid production adjustments will be provided at the CEO Investor Day on Aug. 28.