Hyundai Motor Company Reports Quarterly Earnings

SYDNEY – November 3, 2010: Boosted by strong sales on the back of successful new model introductions, Hyundai Motor Company has seen worldwide sales increase 21 percent (September 2010 YTD v. September 2009 YTD).

A total of 2,668,699 units were sold worldwide year-to-date. Domestic plants contributed 1,275,644 units, with the balance of 1,393,055 from overseas plants.

Net profit almost doubled to 3.9 trillion won (AUD $3.53 billion) compared to the same period last year, boosted by a surge in earnings from overseas subsidiaries such as the U.S. and China. Operating profit rose 66 percent to 2.3 trillion won (AUD $2.08 billion), while sales increased 21 percent to 26.8 trillion won (AUD $24.3 billion).

Strong competition in the small and mid-size car segments sees Hyundai’s global market share stand at 5.1 percent supported by models developed specifically to meet the needs of the advanced and emerging markets. China posted its highest monthly sales, surpassing 73,000 units in September.

In response to intensified competition among global automakers and surging demand in major emerging markets, Hyundai is scheduled to start production in January 2012 at its sixth overseas plant located in St. Petersburg, Russia.