By Thoodore Opara
Hyundai Motor Company, the fastest-growing automaker by brand, announced its 2012 full-year earnings results. In spite of the challenging business environment with fluctuating exchange rates, Hyundai managed to sustain its upward momentum.
For the year 2012, sales revenue rose 8.6 percent to 84.47 trillion won (automotive: 71.31 trillion / finance and other: 13.16 trillion) from a year earlier, helped by increased sales volume and improved product-mix. Operating profit rose 5.1 percent to 8.44 trillion won, while net profit increased 11.7 percent to 9.06 trillion won (including non-controlling interest), fuelled by robust performance at the company’s overseas plants and subsidiaries.
Hyundai sold 4,410,357 units globally (Korea: 667,496 / overseas: 3,742,861) in 2012, an 8.6 percent increase from a year earlier. While its sales in Korea fell 2.2 percent to 667,496 units from the previous year, its overseas sales rose 10.8 percent to 3,742,861 units (exports: 1,243,763 / overseas plants: 2,499,098). In particular, sales jumped more than 10 percent in Europe to 444,000 units, bucking the market’s trend of shrinking demand.