Hyundai Motor, 1Q12 operating profit of 1.25 trillion won 6.8% decrease from the same quarter of the previous year

[Hankook Financial Newspaper] Hyundai Motor fell 6.8% year-on-year to 1.25 trillion won in the first quarter of this year. This is attributable to an increase in marketing costs for temporary shutdown of some factories and a slowing growth trend.

Hyundai Motor said yesterday it had recorded sales of 23.36 trillion won, operating profit of 1.25 trillion won, and sales of 108.96 million units in its first quarter of 2017 at its headquarters in Yangjae-dong, Seoul.

Hyundai Motor officials said that major new cars such as Grandeur and Crete showed strong sales and major recovery in major emerging markets such as Russia and Brazil. However, due to temporary shutdown of some factories to prepare for mass production of new cars, And profitability has slowed down due to cost increases due to various marketing activities to overcome the global low growth trend. "

He added that operating expenses fell by 5.0% year-on-year to KRW3.45 trillion due to cost increases due to various marketing activities and R & D investments to secure future technologies. "He added.

We expect the company's earnings to improve in the future due to changes in the lineup of vehicles due to the effects of new vehicles and the expansion of SUV supply. A Hyundai Motor official said, "Sales of recently launched new models are on the upswing and many new cars are preparing to sail this year in various car sales." In the future, sales of new cars and SUVs should increase, We are going to do our best to improve profitability progressively based on the expected improvement in the performance of major emerging markets such as Brazil. "



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