Hyundai Motor announced its second-quarter results for 2023. The company’s second-quarter revenue rose 17.4 percent year-on-year to 42.25 trillion won, while operating profit rose 42.2 percent to a record high of 4.24 trillion won, the financial report showed.
Hyundai Motor’s operating profit in the second quarter was 4.24 trillion won, a year-on-year increase of 42%, and an estimated 3.82 trillion won.
In this quarter, Hyundai Motor’s net profit was 3.24 trillion won, an increase of 15% year-on-year, and an estimated 3.11 trillion won; sales were 42.25 trillion won, a year-on-year increase of 17% %, estimated at 40.11 trillion won.
In terms of car sales, Hyundai’s global sales in the second quarter were 1,059,713 units, an increase of 8.5% year-on-year. Sales outside South Korea rose 7.6 percent to 854,210 vehicles, with sales in South Korea up 12.7 percent to 205,503 vehicles.
Hyundai Motor maintained an annual sales target of 4.32 million vehicles and an investment plan totaling 10.5 trillion won.
The company will continue to strengthen its position in the electric vehicle segment, increasing sales of the IONIQ 6 and IONIQ 5 and launching more models, including the Hyundai Kona EV, Genesis GV60, Electrified G80 and Electrified GV70.
During the quarter, the company also launched its first high-performance electric vehicle, the IONIQ 5 N, to further strengthen its global leadership in electric vehicles. In addition, IONIQ 6 will be launched in more markets around the world. Hyundai expects the all-new fifth-generation SANTA FE mid-size SUV, which will make its world debut next month, will further boost sales momentum this year.
