Hyundai Motor Achieves Record-High Revenue and Sales…Hybrid and Electric Vehicle Growth Lead the Way
Hyundai Motor recorded its highest-ever performance in both revenue and sales last year. Hyundai Motor announced on the 23rd that its revenue for the previous year reached an all-time high of 175.2312 trillion KRW, marking a 7.7% increase compared to the previous year. This is the highest revenue on record. The increase in revenue was primarily driven by the expanded sales of high-value models, a rise in average selling price (ASP), and favorable exchange rate effects. However, operating profit for the year was 14.2396 trillion KRW, down 5.9% from 2023. The operating profit margin also decreased from 9.3% in 2023 to 8.1%. Net profit stood at 13.2299 trillion KRW. Hyundai Motor's total sales for the previous year reached 4.141959 million units. The eco-friendly vehicle segment, driven by increased sales of hybrids and electric vehicles, grew by 8.9% compared to the previous year, reaching 757,191 units and leading the overall growth. In the domestic market, sales decreased due to the impact of economic slowdown and weakened consumer sentiment. However, in the North American market, sales increased by 4.4%, maintaining a strong growth trajectory. Hyundai Motor's revenue for the fourth quarter of last year was 46.6237 trillion KRW, an 11.9% increase compared to the same period the previous year. Operating profit was 2.8222 trillion KRW, a 17.2% decrease. Global wholesale sales in the fourth quarter totaled 1,066,239 units, a 2.2% decrease from the previous year. While the hybrid and electric vehicle segments continued to show growth, the slowdown in China and emerging markets is believed to have impacted the overall performance. A Hyundai Motor official stated, "Despite increased profit and loss volatility due to the rapidly changing external environment, we continue to grow as sales in the North American region expand and the share of hybrids continues to increase." Hyundai Motor has set its management goals for this year with a global sales target of 4.17 million units, a revenue growth rate of 3-4%, and an operating profit margin of 7-8%. Last year, Hyundai sold a total of 4.142 million units, and in 2023, it recorded sales of 4.217 million units. To achieve these goals, Hyundai plans to fully activate its local electric vehicle production system in North America, expand the sales of hybrids and electric vehicles, and focus on defending profitability. Hyundai Motor has outlined its commitment to continue investing for the future, even in the face of global crises such as increased macroeconomic volatility and growing uncertainties. The company plans to invest a total of 16.9 trillion KRW this year, focusing on responding to the transition to SDVs (Software-Defined Vehicles), building a U.S. electric vehicle supply chain, and securing continuous advancements in future technologies. A Hyundai Motor official stated, "Amid ongoing global economic uncertainties, we aim to establish a sustainable growth foundation through flexible management strategies centered around North America and the expansion of eco-friendly vehicles." Meanwhile, reflecting its strong performance, Hyundai Motor set the year-end dividend at 6,000 KRW per share. The total annual dividend for last year amounted to 12,000 KRW per share, marking a 5.3% increase compared to the previous year. Hyundai Motor plans to maintain a dividend payout ratio of over 25% to enhance shareholder value. ChatGPT를 사용하여 번역한 기사입니다.
