Hyundai Motor stated today that its second-quarter net profit has slipped nearly 11%, while its sales rose. The company earned 546.93 billion Won ($542.1 million) during the period, a 10.6% decline compared to the same period last year. On the other hand, sales rose 12.8% from 8.08 trillion Won to 9.12 trillion Won ($9.03 billion). The automaker did not report the reason for the profit decline.
Hyundai stated that its first-half net profit increased 2.2% to 939.6 billion Won ($931.6 million), while sales during the six months ascended 17% to 17.3 trillion Won ($17.2 billion). The brand has sold nearly 1.5 million units in the first half, which is a 15% gain from the same period last year. "Higher oil prices and strong demand from emerging markets are boosting sales of small- and medium-sized sedans worldwide," Hyundai stated. Hyundai vowed to export its fuel-efficient compact cars aggressively throughout the second-half.
[Source: The Associated Press]
Thursday, July 24, 2008
Hyundai Q2 net profit slips as sales rise
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