- Hyundai Motor sold 1.1 million units worldwide throughout 2016 first quarter
- Sales revenue and operating profit stand at KRW 22.35 trillion and KRW 1.34 trillion, respectively
- Profits declined mainly due to economic recession in emerging markets such as Russia and Brazil
- Hyundai Motor foresees recovered figures in 2Q by boosting sales of newly launched models as well as SUVs in global markets
Hyundai Motor Company, South Korea’s largest automaker, today announced its 2016 1Q business results. Sales volume and operating profit decreased whilst sales revenue increased from the same period last year, mainly due to slowing plant operations that increased fixed costs ratios, and weak cross currencies against KRW in emerging markets such as Russia and Brazil.
Forecast
Hyundai Motor forecasts sales increase in 2Q despite sluggish economy in emerging markets such as Russia and Brazil as markets including the U.S. and China will post strong sales with the All-new Elantra and SUV models.
In addition, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to develop autonomous driving technology and connected-car development as well as securing eco-friendly technology leadership.Hyundai Motor aims to sell a total of 5.01 million vehicles globally (Korea: 693,000 / overseas: 4,317,000) in 2016. It plans to achieve its goal with SUVs including Creta and Tucson and new models like All-new Elantra. In addition, Hyundai Motor will further develop state-of-the-art technologies within new models such as the IONIQ which is offered in three eco-friendly powertrain (HEV, PHEV, EV) and luxury brand GENESIS G90 large luxury sedan.
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. Hyundai Motor also strives to build a more shareholder-friendly environment by increasing transparency and shareholder returns through establishing corporate governance charter.
| ※ IFRS | |||||||
| Hyundai Motor Company 2016 1Q Business Results | |||||||
| (Currency: 1 billion KRW) | |||||||
| 2016 | 2015 | 2016 1Q vs 2015 4Q | |||||
| 1Q | 4Q | Change | |||||
| % | % | ||||||
| Sales Volume (units) |
1,107,377 | 100% | 1,425,450 units | 100% | (318,073) | -22.3% | |
| Korea | 160,577 | 14.5% | 214,446 units | 15.0% | (53,869) | -25.1% | |
| Overseas | 946,800 | 85.5% | 1,211,004 units | 85.0% | (264,204) | -21.8% | |
| Sales Revenue | 22,351 | 100% | 24,765 | 100% | (2,414) | -9.7% | |
| Gross Profit | 4,239 | 19.0% | 4,719 | 19.1% | (480) | -10.2% | |
| Operating Profit | 1,342 | 6.0% | 1,515 | 6.1% | (173) | -11.4% | |
| Recurring Profit | 2,163 | 9.7% | 2,063 | 8.3% | 100 | 4.9% | |
| Net Profit | 1,768 | 7.9% | 1,529 | 6.2% | 239 | 15.6% | |
| 2016 | 2015 | 2016 1Q vs 2015 1Q | |||||
| 1Q | 1Q | Change | |||||
| % | % | ||||||
| Sales Volume (units) |
1,107,377 | 100% | 1,182,834 units | 100% | (75,457) | -6.4% | |
| Korea | 160,577 | 14.5% | 154,802 units | 13.1% | 5,775 | 3.7% | |
| Overseas | 946,800 | 85.5% | 1,028,032 units | 86.9% | (81,232) | -7.9% | |
| Sales Revenue | 22,351 | 100% | 20,943 | 100% | 1,408 | 6.7% | |
| Gross Profit | 4,239 | 19.0% | 4,332 | 20.7% | (93) | -2.1% | |
| Operating Profit | 1,342 | 6.0% | 1,588 | 7.6% | (246) | -15.5% | |
| Recurring Profit | 2,163 | 9.7% | 2,321 | 11.1% | (158) | -6.8% | |
| Net Profit | 1,768 | 7.9% | 1,983 | 9.5% | (215) | -10.8% |
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