Hyundai Motor Company Q1 2023 results

Having reported a 120% rise in operating profit for Q4 2022, Hyundai Motor Company (HMC) nearly maintained the momentum in Q1 2023 with an 86% rise to KRW3,593bn (US$2.715bn), a margin of 9.5% on revenue that was 25% higher at KRW37,779bn. In the automotive division the revenue increase was slightly higher at 27%, boosted by a 13% rise in wholesales to 1,022,000 units with higher sales in all major regions except Russia and South America.