Published on May 6th, 2014 | by Daniel Sherman Fernandez0
Hyundai Motor Announces 2013 Business Results
Hyundai Motor Company, the fastest-growing automaker by brand, this week announced its 2013 full-year earnings results. The company’s revenue rose on increased sales from its overseas markets, while profits fell slightly due to production losses and sluggish sales in Korea and fluctuations in currency exchange rates.
For the year 2013, sales revenue rose 3.4 percent to 87.3 trillion won (automotive: 71.54 trillion / finance and other: 15.77 trillion) from a year earlier, helped by increased sales volume in overseas markets. Operating profit fell 1.5 percent to 8.32 trillion won and net profit fell 0.7 percent to 8.99 trillion won (including non-controlling interest).
Hyundai sold 4,732,366 units globally (Korea: 640,698 /overseas: 4,091,668) in 2013, a 7.3 percent increase from a year earlier. While its sales in Korea fell 4.0 percent to 640,698 units from the previous year, its overseas sales rose 9.3 percent to 4,091,668 units (exports: 1,179,447 / overseas plants: 2,912,221).
Hyundai aims to sell 4.9 million vehicles globally in 2014 (Korea: 682,000 / overseas: 4,218,000), a 3.6 percent increase from last year. In order to achieve this, Hyundai plans to maximize efficiencies at its overseas manufacturing bases to increase global sales, while launching new models such as the all-new Genesis and next-generation Sonata.