Hyundai’s 2016 Q1 Net Down 10.8 percent

Discussion in 'Hyundai' started by xcel, Apr 28, 2016.

  1. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi All:

    Hyundai sold 1,107,377 vehicles worldwide through the first quarter of 2016, down 6.4 percent from the 1,182,834 vehicles sold during the first quarter of 2015.

    Sales revenue (+6.7 percent) and operating profits (- 15.5 percent) stand at $19.64 billion and $1.18 billion USD respectively. Net profits were off 10.8 percent in the quarter mainly due to economic recession in emerging markets such as Russia and Brazil and higher than anticipated incentives around the globe.

    Forecast

    Hyundai forecasts sales increases in the second quarter despite sluggish economic activity in emerging markets.

    Hyundai will continue its strong R&D investment to develop autonomous driving technology, connected-car development and sustainable mobility technology leadership.

    Hyundai expects to sell 5.01 million vehicles globally in 2016. Hyundai will further develop state-of-the-art technologies within the new IONIQ which is offered in three powertrains (HEV, PHEV, EV) and the all-new Genesis G90 luxury sedan.

    Wayne
     

Share This Page