Hyundai Motor Kia announced its full-year financial report for 2022 this week, and its revenue increased by more than 20% year-on-year.
Among them, Hyundai Motor’s total revenue in 2022 will reach 142.5 trillion won (currently about 780.9 billion RMB), a year-on-year increase of 21.2%; the annual operating profit will be 9.82 trillion won (currently about 53.814 billion RMB), a year-on-year increase of 47%; Net profit was 7.98 trillion won (currently about 43.73 billion RMB), an increase of more than 40% year-on-year.
Kia’s total revenue in 2022 will reach 86.56 trillion won (currently about 474.349 billion RMB), and its annual operating profit will be 7.23 trillion won (currently about 39.62 billion RMB), a year-on-year increase of 23.9% and 42.8%; net profit was 5.41 trillion won (currently about 29.647 billion RMB), a year-on-year increase of 13.6%.
In terms of sales, Hyundai Motor’s global sales in 2022 will reach 3,944,579 vehicles, an increase of 1.4% compared to 2021; Kia’s global sales in 2022 will be 2,903,619 vehicles, an increase of 4.6% compared to 2021. The total global sales of Hyundai Motor Group in 2022 will reach 6,848,198 vehicles, making it the third largest automobile group in the world after Toyota and Volkswagen.
In terms of electric vehicles, the global sales of Hyundai Motor’s pure electric vehicles IONIQ 5 and IONIQ 6 will exceed 100,000 in 2022. In 2022, Kia will sell a total of 487,000 electric vehicles, including hybrid, plug-in hybrid and pure electric models, a year-on-year increase of 54.8%.
Specifically, Hyundai Motor has set its global sales target for 2023, including Genesis, at 4,321,000 units, of which the sales target for markets outside South Korea is 3,540,000 units, and the domestic sales target for South Korea is 781,000 units. Meanwhile, revenue targets are for 10.5-11.5% consolidated revenue growth and 6.5-7.5% consolidated annual operating margin. Kia has set its global sales target for 2023 at 3,200,000 units, of which the sales target for markets outside Korea is 2,614,880 units, and the domestic sales target for South Korea is 585,120 units. The goal in terms of revenue is to achieve revenue of 97.6 trillion won (currently approximately 534.848 billion RMB), an operating profit of 9.3 trillion won (currently approximately 50.964 billion RMB), and an operating profit margin of 9.5%.
