Hyundai has had a big year, and the results are showing in the form of healthy profits. According to BusinessWeek, the Korean automaker earned $1.75 billion in the first quarter, up 46 percent versus the first quarter of 2010. Overall revenue was up 21 percent to $17 billion.

Sales volume was higher as well, as the 922,000 units sold globally represented a nine percent increase. Much of that increase occurred in plants in the U.S. and China, where output climbed by 14 percent. A richer model mix also buoyed Hyundai's profits, as pricing per model rose by an impressive 14 percent in overseas markets and 2.5 percent in its Korean home market.

Hyundai's impressive quarterly performance helped rally stocks in Korea, and the automaker saw a 7.5 percent gain on the day. For the year, Hyundai's share price has risen a meteoric 44 percent.

[Source: BusinessWeek | Image: Zach Bowman/AOL]


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    • 1 Second Ago
  • 28 Comments
      Jaybird36
      • 3 Years Ago
      Is this Hyundai, or just their Auto division. Their ship building etc are huge.
        Sung-Hwan Joo
        • 3 Years Ago
        @Jaybird36
        Hyundai used to be hugh one group. No more. Hyundai Motors and Kia motors belong to Hyundai Motor Group. Ship buliding company (Hyundai Heavy Industries) is a seperate company now.
          Prestige
          • 3 Years Ago
          @Sung-Hwan Joo
          Actually Hyundai Heavy Industries is owns a 50% stake in the Hyundai Corporation, which includes Hyundai Motors and Hyundai Steel. http://en.wikipedia.org/wiki/Hyundai_Corporation
      Ragav
      • 3 Years Ago
      Is this the net profit or the pretax profit? I had one guy arguing with on the VW profits section here saying that VW has a $4 billion pretax profit (without any mention of a source)while Ford had a pretax profit of $2.8 Billion which was reported clearly. VW 's pretax profit wasn't mentioned in the article.
      sp33dklz
      • 3 Years Ago
      Wow, Hyundai making more money than Honda? Who would have thought? Honda... please fire your designers. KTHX!
      T0pgear
      • 3 Years Ago
      hyundai=new honda? and vw=new toyota?
        Loren Bennett
        • 3 Years Ago
        @T0pgear
        Toyota the old Oldsmobile is more like it..............LOL Next time you pass by a Toyota or a Lexus, see who is driving it............a housewife, an AARP member.
      tantareanujellob
      • 3 Years Ago
      How many 40mpg models do they have now? Like 5? Toyota is screwed.
        Loren Bennett
        • 3 Years Ago
        @tantareanujellob
        Toyota will be screwed more in a few years when their models get really old, and only the retirees buy their stuff. You can survive on AARP members or housewives. Just ask Oldsmobile and Volvo who is now a Chinese owned company.
      dukeisduke
      • 3 Years Ago
      Uh-oh, here comes Bob King!
      • 3 Years Ago
      [blocked]
        • 3 Years Ago
        [blocked]
        anonymous guy
        • 3 Years Ago
        I currently own my fifth Hyundai. Never had a problem with one of them. The key is maintenance. Well, I did have to have the driver's seat replaced in my previous '04 Elantra ... because it was squeaking. Love that warranty!
        desidnerd
        • 3 Years Ago
        @Mitchell I laugh at people with poor English
      longducdong
      • 3 Years Ago
      The rise of Hyundai steams forward. Holy cow.
      Autoblogist
      • 3 Years Ago
      What's Hyundai's ticker symbol?
        Fulorian
        • 3 Years Ago
        @Autoblogist
        005830 on the Korean stock exchange, or there's a GDR in London with the ticker HYUD. There's also a pinksheet in the US, HYTMF, but it's so thinly traded that I would stay very far away from it. The country of South Korea does not own Hyundai whatsoever, although there are some laws over how much of South Korean companies can be owned by foreigners.
      bobmarley
      • 3 Years Ago
      is this for hyudai & kia or just hyundai?
        JustinJQ
        • 3 Years Ago
        @bobmarley
        Just Hyundai because as far as I know, they report their financial information separately.
        RudyH
        • 3 Years Ago
        @bobmarley
        Just Hyundai Between Hyundai and Kia, their goal is to outsell Toyota this year. Mind you Toyota is wounded right now...it is a goal worth obtaining.
        Fulorian
        • 3 Years Ago
        @bobmarley
        Hyundai owns 38% of Kia - 38% of Kia's profit is reflected in that number, but it's difficult to say what that represents out of the Hyundai total without comparing their income statement's side by side.
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