The Cinderella story of the automotive industry continues as Hyundai reported a second quarter net profit of 613.2 billion won ($594.8 million), which is a 24% jump over the same quarter last year. The profits were earned thanks to strong performances from the company's financial units, big sales of its high-end models like the TG Grandeur (shown), stable raw material costs and an easing won. Just like Honda, Hyundai has goals, the biggest of which is to become the world's fifth largest automaker by 2010 (see post earlier today). Sister company Kia Motors will report its earnings tomorrow.

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