Hyundai Ranked Higher in Forbes Top
Hyundai has overtaken Toyota (which is now No. 360) to become the third automotive producer in the top, following Honda Motors (86th place) and Ford Motor Company (58th place). The Korean company has increased its ranking risen in the past two lists, rising from 245th in 2008 and 196th in 2009.
Of the 21 South Korean companies in the top, Hyundai ranks four behind Samsung Electronics (55), Posco (137) and Shinan Financial (187). The top five of South Korean companies is completed by Hyundai Heavy Industries (278).
The magazine describes the Forbes Global 2000 as being “the biggest, most powerful companies in the world.” The rankings are based on equal weighting of sales, profits, assets and market value. In total, the Global 2000 companies account for $30 trillion in revenues, $1.4 trillion in profits, $124 trillion in assets and $31 trillion in market value.
For the first quarter of 2010, Hyundai registered a record high net profit of $1.02 billion, a figure that is five times the value of that posted by the automaker in the same period of last year. The company’s quarterly sales revenue saw a 39.6 percent increase from last year, managing to reach a value of $7.59 billion. Hyundai saw it’s sales surge 36.6 percent in the first three months of 2010, compared to the same period of 2009. In addition to that, the automotive producer’s market share reached 4.8 percent in Q1 2010, up from 4.7 percent in Q1 2009.