Hyundai sales increased
Hyundai Motor Company has announced 2013 first-quarter earnings results. Despite various internal and external factors, continued positive sales growth overseas has been the impetus for a six percent increase in sales revenue, compared to the same period last year.
For the first three months of 2013, sales revenue rose six percent to $18.6 billion.
Hyundai sold more than one million units globally during the first quarter of 2013, a 9.2 per cent increase year-on-year.
While its sales in Korea fell -0.7 per cent from the same period a year ago, overseas sales rose 10.9 per cent, offsetting the decline in the domestic market.
Hyundai’s production volume at its Korean plants declined during the first quarter due to limited production stoppages on weekends, currently under resolution process, which lead to increased fixed costs. A more stable outlook on currency exchange rates and Hyundai’s ongoing robust sales in overseas markets such as China and Brazil has the company’s earnings forecast to improve going forward.
Hyundai forecasts major automotive markets, including selected emerging markets, will continue to post slower growth amid fiercer competition and an uncertain business environment.
Hyundai aims to strengthen its fundamentals through qualitative growth and quality management bolstered by the launch of local strategic models, the fortification of sales and service networks, and an aggressive strategic marketing schedule.
Such efforts have already been in progress, posting significant results. The HB20, which rolled off Hyundai’s new Brazilian plant in October 2012, has won five major local awards including the 2013 Brazilian Car of the Year.
By strengthening its dealer network, Hyundai’s market shares in European and Indian markets are enjoying positive growth.
In the United States cumulative sales of the Elantra have exceeded two million units since it launched in 1991, due to differentiated marketing strategies based on enhanced product quality. These successful considered tactics will be applied globally moving forward.
For a full rundown on Hyundai vehicles call into Shepparton Hyundai, Benalla Rd. Or phone the showroom on 5822 5877.