Hyundai Motor Company, the fastest-growing automaker by brand, today announced its 2013 full-year earnings results.
The company's revenue rose on increased sales from its overseas markets, while profits fell slightly due to production losses and sluggish sales in Korea and fluctuations in currency exchange rates.
For the year 2013, sales revenue rose +3.4 percent to 87.3 trillion won (automotive: 71.54 trillion / finance and other: 15.77 trillion) from a year earlier, helped by increased sales volume in overseas markets. Operating profit fell -1.5 percent to 8.32 trillion won and net profit fell -0.7 percent to 8.99 trillion won (including non-controlling interest).
Hyundai sold 4,732,366 units globally (Korea: 640,698 / overseas: 4,091,668) in 2013, a +7.3 percent increase from a year earlier. While its sales in Korea fell -4.0 percent to 640,698 units from the previous year, its overseas sales rose +9.3 percent to 4,091,668 units (exports: 1,179,447 / overseas plants: 2,912,221).
In the fourth quarter alone, sales revenue decreased -3.4 percent to 21.94 trillion won (automotive: 17.76 trillion / finance and other: 4.18 trillion) with global sales of 1,232,344 units. However, operating profit increased +10.8 percent to 2.03 trillion won from a year earlier.
Hyundai forecast that both domestic and overseas markets - advanced and emerging alike - are poised to generate sluggish demand. As a result, the company plans to focus on strengthening its fundamentals and securing future competitiveness such as boosting fuel efficiency and developing so-called smart cars that combine clean energy and advanced technologies.
Hyundai aims to sell 4.9 million vehicles globally in 2014 (Korea: 682,000 / overseas: 4,218,000), a +3.6 percent increase from last year. In order to achieve this, Hyundai plans to maximize efficiencies at its overseas manufacturing bases to increase global sales, while launching new models such as the all-new Genesis and next-generation Sonata.
