Hyundai Posts All-Time High Q1 Net Profit

The outlook is very promising for the South Korean car industry as their biggest car maker, Hyundai, reported a record high net profit for this year’s first quarter of 1.13 trillion won ($1.02 billion). This represents five times the value of the company’s global net profit registered in the first three months of 2009.

According to company spokesman Ki Jin-ho, this year’s Q1 result represents an all-time high on a quarterly basis. The news is even more encouraging for the stakeholders, as the worldwide economic climate still struggles on its way to recovery. Last year, the company’s stock price tripled and has now rose 0.4 percent after the automotive brand announced its Q1 global results,  Associated Press reported.

Hyundai-KIA group is currently the world’s fifth-largest car maker and has a good chance to go even further thanks to the duo’s emphasis on quality and design in recent years. But returning to figures now, the company’s quarterly sales revenue rose 39.6 percent from last year to $7.59 billion, while quarterly sales volume jumped 36.6 percent from 2009 to 842,037 vehicles.

Again, according to Hyundai spokesman Ki, via Associated Press, global market share rose to 4.8 percent in the first quarter of 2010 from 4.7 percent a year ago. The company said this result relied heavily on the growing sales registered in China, India and USA. The South Korean car maker currently has two production facilities in China, two in India and plans a third one for China.