Hyundai Motors net profits up 17.4% at end of 2012 Q3

Hyundai Motor Company has recorded increased sales and augmented profits for the quarter ended 30th September 2012. Sales stood at 3,183,516 units in the period January to September 2012 up 7.9% as compared to sales during the same period in the previous year. Profits have increased substantially with a 17.4% increase recorded while operating profit too increased by 14.8% to 9.07 trillion. These results were noteworthy considering sluggish demand in home markets but were counterbalanced by increased demand in overseas markets.

Taking only third quarter results into account, Hyundai Motors sold 1,000,748 units resulting in sales revenue to tune of 19.65 trillion and operating profit of 2.10 trillion. When comparing this to second quarter, Hyundai Motors saw a drop in sales revenue by 10.5% and operating margins by 0.9% following dip in demand in Korean markets following loss of production due to labor strikes which took a toll on production leading to a decrease in sales by 5.6% to 481,403 units.

Uncertainties in the auto industry will continue well into the fourth quarter though Hyundai is sure of achieving its sales targets due to the high quality of their products, various marketing strategies and enhanced dealer networks. The company is also focused on launching new and improved products in the market to gain market share over its rivals.