Couldn’t avoid sales slowdown… Hyundai Motors, domestic market sales decrease by 16% < IB/Company < Text of article

Operating profit meets consensus… Sales peaked in the first quarter

(Seoul = Yonhap Infomax) Reporter Kyung-rim Kim = Hyundai Motor Company’s domestic wholesale sales volume plummeted by double digits.

Due to strong sales in the global market, overall sales increased compared to the same period last year, but operating profit was in line with market expectations.

Hyundai Motor Company announced on the 25th that its sales in the first quarter of this year were 40.66 trillion won, an increase of 7.6% compared to the same period last year. Operating profit decreased by 2.3% to 3.5573 trillion won, and net profit decreased by 1.3% to 3.376 trillion won.

Sales decreased by KRW 231 billion due to sluggish sales, but mix improvement and exchange rate effects added KRW 942 billion and KRW 369 billion, respectively.

Operating profit also decreased by about 50 billion won due to a decrease in volume, but the exchange rate effect was reflected by 251 billion won.

Hyundai Motor Company’s first quarter performance

Hyundai Motor Company performance presentation material

Hyundai Motor Company’s first quarter operating profit is in line with market expectations.

As a result of Yonhap Infomax conducting a consensus among securities firms that predicted Hyundai Motor Company’s performance, sales were calculated to be KRW 39.4602 trillion and operating profit was KRW 3.6046 trillion.

Global sales in the first quarter were 1,006,76 units on a wholesale basis, down 1.5% from the same period last year. This is due to a 16.3% decrease in domestic market sales due to the Asan factory shutdown. Hyundai Motor Company temporarily stopped its Asan factory production line in the first quarter to sell new cars.

However, in overseas markets, sales increased by 1.9% due to the launch of new models and improved product quality of major lineups.

Sales of eco-friendly vehicles decreased by 4.8% compared to the previous year due to slowing demand for electric vehicles, despite the strengthening of hybrid models. Eco-friendly vehicle sales amounted to 154,000 units, a decrease of 7,000 units compared to the same period last year.

Hyundai Motor Company’s first quarter eco-friendly car sales volume

Hyundai Motor Company performance presentation material

Hyundai Motor Company plans to focus on expanding the ‘Ioniq’ brand and strengthening hybrid models to grow the eco-friendly car market. In addition, we plan to implement strategies to expand market share and defend profitability, focusing on high value-added vehicle models.

The quarterly dividend was 2,000 won, a 33.3% increase from the same period last year (1,500 won).

A Hyundai Motors official said, “Hyundai Motors will continue to strive to increase shareholder value by expanding its shareholder return policy in consideration of corporate value-up programs.”

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This article was published at 14:27 on the Infomax financial information terminal.