Hyundai profits jump 21% in third-quarter, aims to sell more than 4 million vehicles in 2011

Posted: Oct 27, 2011
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2011 Hyundai Sonata

Hyundai Motor Co. posted a third-quarter profit increase of 21 percent. The Korean automaker attributes sales of the Sonata and Tucson to the increase in profits. Hyundai’s net income increased to  1.92 trillion won ($1.7 billion) in the three months ended on the last day of September.

Hyundai ended up beating the projections of 1.89 trillion won, made by seven analysts that were surveyed by Bloomberg.

CFO Lee Won Hee said that Hyundai will sell more than 4 million vehicles this year as it boosts production from factories in markets like China. The move will lead Hyundai to post record earnings in 2011 and beat profits by Toyota Motor Corp.

We’re pretty sure many automakers are wondering what Hyundai’s secret is.

- By: Omar Rana

Source: Automotive News


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  • Cad4life

    u 2 can make greater profit if u pay people less in america than u do in your home country, and still people vote those ______ in at local/state/fed level, and u wonder why the country is headed in the wrong direction, its because of u