Hyundai Motor sold 4.96 million units worldwide throughout 2015
Sales revenue and net profit stand at KRW 91.96 trillion and KRW 6.51 trillion, respectively
Profits declined mainly due to weak cross currencies, heightened competition in major markets and profit decline from non-auto business
Hyundai Motor Company, South Korea’s largest automaker, today announced its 2015 full-year business results. Sales volume and sales revenue increased while operating profit declined from the same period last year, mainly due to weak cross currencies, increased promotional activities due to heightened competition amongst automakers and profit decline from non-auto business.
Hyundai Motor forecasts that an unfavorable business environment is likely to continue in 2016. Emerging markets including China will continue posting slower growths. Also growing geopolitical risks and low oil price will lengthen economic stagnation, leading to steeper competition amongst automakers.
Nevertheless, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to strengthen state-of-the-art technology development and securing eco-friendly technology leadership.
Hyundai Motor aims to sell 5.01 million vehicles globally (Korea: 693,000 / overseas: 4,317,000) in 2016. It plans to achieve its goal with new model launches like All-new Elantra, Brand-new IONIQ offered in three eco-friendly powertrain (HEV, PHEV, Full-EV) and Hyundai Motor’s luxury brand Genesis G90 (EQ900 in Korea) large luxury sedan in 2016 to major global markets.
Hyundai Motor will continue strengthening its cooperation with suppliers and actively carry out Corporate Social Responsibilities to create more values to customers and stakeholders alike.