UPDATED. 2024-07-23 17:34 (화)
Hyundai Motor returns to profitability in Q3
Hyundai Motor returns to profitability in Q3
  • Yang Tae Hoon
  • 승인 2021.10.27 09:44
  • 댓글 0
이 기사를 공유합니다

Despite chip shortage causing production problems
Image: Hyundai Motor
Image: Hyundai Motor

Hyundai Motor on Tuesday said it posted 28.86 trillion won in sales and 1.6 trillion won in operating income during the third quarter.

Sales increased 4.7% from a year ago while the automobile giant returned to profitability from its loss a year ago.

Hyundai recorded 1.48 trillion won in net income during the quarter.

The company said it was a difficult quarter due to increasing raw material prices, unfavorable exchange rate and the prolonged chip shortage that was causing production problems.

But Hyundai Motor saw expanded sales of its Genesis SUV and it was reducing incentives to improve profitability, the company said, which helped the company maintain profitability.

The company also said it expected annual earnings for this year to exceed that of 2020.

Annual sales in 2021 is expected to increase up to 18% compared to 2020, the company said.

Hyundai Motor will continue to focus on expanding sales of SUV and Genesis while increasing average sales prices of its E-GMP-based electric vehicles such as Ioniq 5 and SV6.

The company also said it initially had shared its goal of selling 560,000 units of electric vehicles in 2025 but now considers this a conservative figure and plans to share with the market its new aim.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • 515, Nonhyeon-ro, Gangnam-gu, Seoul, Republic of Korea 4F, Ahsung Bldg.
  • 대표전화 : 82-2-2658-4707
  • 팩스 : 82-2-2659-4707
  • 청소년보호책임자 : Stan LEE
  • 법인명 : The Elec Inc.
  • 제호 : THE ELEC, Korea Electronics Industry Media
  • 등록번호 : 서울, 아05435
  • 등록일 : 2018-10-15
  • 발행일 : 2018-10-15
  • 발행인 : JY HAN
  • 편집인 : JY HAN
  • THE ELEC, Korea Electronics Industry Media Prohibiting unauthorized duplication,publishing,modification and distribution the material on this Site for any purpose.
  • Copyright © 2024 THE ELEC, Korea Electronics Industry Media. All rights reserved. mail to powerusr@thelec.kr