Hyundai reports record profits

14 May 2002: Hyundai Motor company has reported record first-quarter net profits, more than doubled to 519m euros in the first three months of the year.

This increase was primarily driven by growth in US sales, which grew 27 per cent in the period, representing nearly a quarter of the 402,766 cars sold in all markets, up 8.4 per cent from a year ago.

There has also been an up-market shift reflected in the strong demand for Hyundai's Sonata and Santa Fe sports utility vehicle.

May 2002