Hyundai Motor Company said unit sales rose 11.5% to 2,182,768 units (domestic 327,963/export 1,854,805) worldwide in the first six months of 2012.

Net profit rose 19.5% to KRW4.998 trillion with operating profit of KRW4.785 trillion on sales revenues up 9.9% to KRW42.105 trillion.

The automaker said "continued business uncertainty surrounding the auto industry will increase in the second half of 2012".

"To deal with difficulties such as the European financial crisis and slowing demands in emerging markets, Hyundai Motor will continue to focus on qualitative growth, raising profitability based on brand enhancement through the introduction of high quality new models and further developing customer service practices."

It will also accelerate development of its eco-friendly car line up.

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Hyundai Motor Reports 2012 First Half Earnings

News media release 1st August 2012

Hyundai Motor Company, South Korea’s largest automaker, sold 2,182,768 units (domestic: 327,963 / overseas: 1,854,805) worldwide in the first six months of 2012, up +11.5 percent compared to the first half of 2011, continuing its upwards sales momentum.

Hyundai Motor’s robust sales in overseas markets, based on its world-class quality and strong product competitiveness, led strong earnings in spite of sluggish global demand. Net profit rose +19.5 percent to 4.998 trillion won in the first half from a year earlier (including non-controlling interest). Hyundai Motor’s operating profit stood at 4.785 trillion won on sales revenues of 42.105 trillion won. The total was comprised of Auto business: 36.323 trillion and Finance and others: 5.782 trillion. Sales revenues increased +9.9 percent due to a rise in sales volume and improved product mix.

The Korean domestic market decreased -4.6 percent to 327,963 units because of falling consumer confidence. Overseas sales rose +14.9% to 1,854,805 units (export: 663,637 / overseas plants: 1,191,168) compared to the same period in 2011.

The continued and increasing popularity of the Hyundai brand in markets outside of Korea helped to maintain steady sales momentum for the first half of 2012, while enhanced brand values and rising average selling price helped improve profitability.

Hyundai Motor foresees the continued business uncertainty surrounding the auto industry will increase in the second half of 2012. To deal with difficulties such as the European financial crisis and slowing demands in emerging markets, Hyundai Motor will continue to focus on qualitative growth, raising profitability based on brand enhancement through the introduction of high quality new models and further developing customer service practices.

The company will also accelerate the development of its eco-friendly car line up, including electric vehicles, hybrid cars, fuel cell electric vehicles as well as conventional vehicles with high fuel efficiency and low emissions, establishing solid ground for growth.

Original source: Hyundai media