Hyundai continues its juggernaut-like growth breaking one record after the other. In 2010, the South Korean carmaker not only replaced Toyota as Europe’s best-selling Asian brand and passed the 500,000 sales mark in the US for the first time since entering the market in 1986, but the company also posted record sales and impressive profits.
Not including affiliate Kia Motor’s results, Hyundai alone recorded global sales of 3,612,487 units (domestic plants: 1,730,682, overseas plants: 1,881,805) in 2010, which represents a 16.3 percent increase from a year earlier.
Sales revenue rose 15.4 percent to 36.8 trillion won (US$ 33 billion) from a year earlier thanks to the introduction of new cars and an improved product mix, while operating profit also soared 44.4% to 3.2 trillion won (US$2.8 billion). Net profit increased 77.8 percent to 5.3 trillion won (US$4.8 billion).
South Korea’s largest automaker has set even higher goals for 2011, stating that it plans to “reinforce its internal competitiveness” and achieve a global sales target of 3.9 million units.
