Hyundai's Sales Surpass W100 Trillion Again
27 January, 2021
Automaker Hyundai's operating profit fell below W3 trillion last year because of the coronavirus pandemic, but sales still came found in above W100 trillion for the second year in a row (US$1=W1,107).
Hyundai said Tuesday that operating profit declined 22.9 percent on-year to W2.78 trillion, as the operating margin edged down 0.7 percentage point to 2.7 percent.
But sales only declined 1.7 percent to W104 trillion.
Hyundai were able to sell just 3.74 million cars this past year, down 15.4 percent from 2019. Domestic sales increased 6.2 percent to 787,854 cars, but overseas sales declined 19.7 percent to 2.957 million.
Especially hard hit were sales in China (down 32.2 percent) and Latin America (down 29.5 percent).
This season Korea's biggest automaker hopes to market 4.16 million cars, incorporating 741,500 in Korea, up 15 percent, while targeting an operating margin of 4 to 5 percent.
A good Hyundai staffer said, "We try to improve profitability with the new Tucson SUV, that was released in the next half of 2020, and continuing to expand sales of the Genesis brand in North America."
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