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Hyundai quadruples

Hyundai quadruples

South Korea's top carmaker Hyundai Motor said yesterday net profit almost quadrupled in the fourth quarter on strong domestic demand for new models and tax incentives for new car purchases.
Net profit for the three months to December jumped to 945.5 billion won (US$820.9 million) from 243.5 billion won a year earlier, it said in a statement.
Sales rose 9.3 percent year-on-year to 9.649 trillion won and operating profit surged 44 percent to 837.2 billion won in the fourth quarter.
For all of 2009, net profit more than doubled to 2.962 trillion won from 1.448 trillion a year earlier.
Sales fell 1.0 percent year-on-year to 31.859 trillion won and operating profit rose 19 percent to 2.235 trillion won for the full year.
Hyundai said it aims to sell a total of 3.46 million vehicles globally in 2010 with the launch of the YF Sonata sedan and the Tucson sport utility vehicle in the U.S., compared to 3.1 million last year.


Updated : 2021-03-08 18:27 GMT+08:00