Hyundai Mobis first quarter sales and operating profit rose 18.5% and 6.4% respectively year on year due to strong sales of modules to Hyundai Motor and affiliate Kia Motors.

The Maeil newspaper said sales increased to a record KRW7.34 trillion (US$6.45bn) in the three month period, with operating profit rising to KRW730.6bn.

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Module sales rose 20.4% to KRW3.52 trillion.

Sales of electronic parts and key components increased 14.7% to KRW1.90 trillion.

European sales rose 40.8% – both Hyundai and Kia have plants in eastern Europe – followed by the US (23.7%) and China (17.3%), the report added.

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