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Hyundai Motor Group's H1 operating profit ranks
No. 2 globally, surpasses Volkswagen
Korea JoongAng
Daily - Korea's Hyundai Motor Group ranked second globally in operating profit
during the first half of this year, surpassing Germany's Volkswagen Group,
industry data showed Sunday.
The combined
operating profit of Hyundai Motor and Kia totaled 13.01 trillion won ($9.35
billion) for the January-June period.
By comparison,
Volkswagen Group, the world's second-largest automaker by sales volume,
recorded an operating profit of 6.7 billion euros (10.86 trillion won) during
the same period.
It was the
first time Hyundai Motor Group has outperformed Volkswagen Group in operating
profit on a half-year basis.
Hyundai,
currently ranked third globally in sales volume, is believed to have narrowed
the gap with Volkswagen on the back of its swift response to market disruptions
amid U.S. tariff measures, such as inventory adjustments and production
management.
“Although
Hyundai Motor Group saw its first-half operating profit fall by more than 10
percent, it performed relatively well compared with competitors like Toyota
Group, which faced over 4 trillion won in tariff-related costs,” an industry
insider said. Toyota Group retained the top position globally in both sales and
operating profit. (Yonhap)
