Hyundai Motor Company has reported that it has sold 2,949,914 units worldwide in the first nine months of the year, up 10.5% from the same period a year earlier. Of the total, 510,228 units were sold domestically, while 2,439,686 vehicles were shifted in other global markets. The Korean automaker’s overseas sales rose 11.2% from the same period last year, while its domestic sales increased 7.3%.
The growth has been led by the launch of new models and strengthened product competitiveness throughout its lineup, the company said. New models such as Accent (badged as the Verna in some markets), Grandeur (Azera), Veloster and i40 drove up sales in all regions.
Net profit increased 34.1% to 6.1 trillion won as of the end of September from a year earlier, while operating profit rose 27.1% to 5.95 trillion won. Improved product mix and sales growth boosted sales revenue by 18.2% to 57.28 trillion won.
For the remainder of the year, however, the company said that global demand is expected to be lower than the industry’s original forecast earlier this year, due to unfavourable external factors such as the European financial crisis and slower growth in emerging markets. It added it would strengthen its focus on qualitative growth and implementing innovative marketing strategies to overcome these hurdles.