The Nation Newspaper

Tag: Hyundai Motor

  • Hyundai Motor sold 4.86m units worldwide in 2016

    Hyundai Motor sold 4.86m units worldwide in 2016

    South Korea’s largest automaker, Hyundai Motor Company, has announced its 2016 full-year business results. Sales volume and operating profit declined from the same period last year due to high production cost caused by series of labour strikes and continued economic stagnancies in emerging markets.

    For the year 2016, Hyundai global sales totalled 4,857,933 units (Korea: 656,526 / overseas: 4,201,407), down 2.1 percent year-on-year.

    Despite year-on-year decrease in sales, Hyundai Motor’s sales revenue increased 1.8 percent from a year earlier owing to sales increase of SUVs and GENESIS models. Operating profit fell 18.3 percent and net profit showed a 12.1 percent decrease for 2016.

    In the fourth quarter alone, global sales totalled 1,380,024 units. Hyundai Motor forecasts the business environment to be ever more uncertain due to continued sluggish global economy and possibility of increase in protectionist trade policies.

    Nevertheless, Hyundai Motor will continue its effort to focus on strengthening competitiveness and product quality in the global automotive market. To do so, Hyundai Motor will launch variety of new cars and boost sales of SUVs, GENESIS models and eco-friendly models.

    Also by continuously investing in R&D, Hyundai Motor will focus on three core future technologies Clean Mobility, Freedom in Mobility and Connected Mobility, to ensure future growth.

    Hyundai Motor will continue its cooperation with suppliers and actively carry out more values to customers. Hyundai Motor also strives to build a more shareholder-friendly environment by increasing transparency and shareholder’s value. The company announced its new dividend policy which outlines a payout plan of 30 to 50 percent of free cash flows (FCF).

  • Hyundai Motor sells 64.96m units

    Hyundai Motor Company, South Korea’s largest automaker, has announced its 2015 full-year business results.

    Sales volume and sales revenue increased while operating profit declined from the same period last year, mainly due to weak cross currencies, increased promotional activities due to heightened competition amongst automakers and profit decline from non-auto business.

    The auto giant claimed it sold 64.96 million units worldwide throughout last year.

    Hyundai Motor forecasts that an unfavourable business environment is likely to continue this year.

    Emerging markets including China will continue posting slower growths. Also growing geopolitical risks and low oil price will lengthen economic stagnation, leading to steeper competition amongst automakers.

    Nevertheless, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to strengthen state-of-the-art technology development and securing eco-friendly technology leadership. Hyundai Motor aims to sell 5.01 million vehicles globally.

    It plans to achieve its goal with new model like All-new Elantra, Brand-new IONIQ offered in three eco-friendly powertrain (HEV, PHEV, Full-EV) and Hyundai Motor’s luxury brand Genesis G90 (EQ900 in Korea) large luxury sedan in 2016 to major global markets.

    Hyundai Motor will continue strengthening its cooperation with suppliers and actively carry out Corporate Social Responsibilities to create more values to customers and stakeholders alike.

  • Hyundai Motor sells 64.96m units

    Hyundai Motor sells 64.96m units

    Hyundai Motor Company, South Korea’s largest automaker, has announced its 2015 full-year business results.

    Sales volume and sales revenue increased while operating profit declined from the same period last year, mainly due to weak cross currencies, increased promotional activities due to heightened competition amongst automakers and profit decline from non-auto business.

    The auto giant claimed it sold 64.96 million units worldwide throughout last year.

    Hyundai Motor forecasts that an unfavourable business environment is likely to continue this year.

    Emerging markets including China will continue posting slower growths. Also growing geopolitical risks and low oil price will lengthen economic stagnation, leading to steeper competition amongst automakers.

    Nevertheless, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to strengthen state-of-the-art technology development and securing eco-friendly technology leadership. Hyundai Motor aims to sell 5.01 million vehicles globally.

    It plans to achieve its goal with new model like All-new Elantra, Brand-new IONIQ offered in three eco-friendly powertrain (HEV, PHEV, Full-EV) and Hyundai Motor’s luxury brand Genesis G90 (EQ900 in Korea) large luxury sedan in 2016 to major global markets.

    Hyundai Motor will continue strengthening its cooperation with suppliers and actively carry out Corporate Social Responsibilities to create more values to customers and stakeholders alike.

  • Hyundai Motor breaks ground for plant in China

    Hyundai Motor broke ground on its new fourth plant in Changzhou, Hebei Province, last week. Hyundai Motor’s Vice Chairman Euisun Chung, Governor of Hebei Zhang Qingwei, Korean Ambassador to China Jang-soo Kim and other 600 distinguished guests were present at the ground breaking event.

    Vice Chairman Chung promised to rewrite the legacy of ‘Hyundai Speed’ and ‘Hyundai Miracle’ with the Chinese partners by the construction of the plant.

    Changzhou Plant, built on 1.92 million square meter site with a floor space of 250,000 square meter, will be a fully equipped plant with press, body, paint and assembly lines, in addition to an engine plant. The construction for Changzhou Plant will be completed at the end of 2016 with capacity of 200,000 units, producing strategic small cars. Changzhou plant is planned to expand its capacity to 300,000 units in 2018.

    Hyundai Motor will establish high-tech automotive manufacturing facilities and know-how to make Changzhou Plant a smart, environment friendly plant. By installing the latest automation facilities in press, body, paint and assembly lines, a flexible production system will be in operation. Also, Changzhou plant will implement recycling system, including recycling gas emission, water and waste discharge.

    In addition, Hyundai Motor will break grounds on its Chongqing Plant in the second half of this year to advance into Midwest China, which is expected to surge in demand for cars through government in-land development efforts.