Hyundai Motor rises48 percent net profit in the fourth quarter to a record as the automaker's overseas earnings harvested sales.Hyundai strong, said Thursday it won won 1.4 trillion U.S. dollars (1.3 billion dollars) the three months ended Dec. 31 after recording 946 billion won profit a year earlier.
Hyundai Motor Co., the largest automaker in South Korea and was a major force in the global industry in expanding aggressively abroad, with factories in China, India, Turkey, the United States, and the Czech Republic late last year, Russia. The company and South Korean Kia Motors Corp. together form the fifth largest global automotive group.
Song Company spokesman Meeyoung said that net profit and turnover has been all-time quarterly highs.Sales rose 5.1 percent to 943,791 cars in the fourth quarter and rose 16.3 percent to a record 3.61 million for 2010.
Hyundai has been strong profitability and the strength of last year abroad, in factories and selling activities, which affect its turnover earnings.The the company did not break down its performance overseas in the fourth quarter, but said that its operations in China, India, USA, Czech Republic and Turkey, all contributed to the result of 2010.
Among these operations, the artist most notable were the U.S., where sales volume grew 53.9 percent in 2009 to 300,000 vehicles, while revenue rose 46.8 percent, according to presentation of material to investors.
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