Thursday, October 27, 2011

Hyundai's Q3 profit increases 21%

Hyundai was once viewed much like many Chinese car companies are being now; known as producers of bland and cheap cars.

Things have changed over the past couple of years and the carmaker has addressed its design and reliability problems to outperform its rivals especially during the past global financial crisis.

Hyundai has become a formidable competitor to more established rivals and a company that constantly posts rising sales and increasing profits.

Earlier today, Hyundai Motor Company announced earnings for the third quarter of the year. Fueled by rise in sales and improved profitability, the automaker's Q3 profits rose 21 percent for a total of $1.7 billion (net profit) achieved during the July to September quarter.

The world's fifth-biggest carmaker increased its third quarter profits compared to a year ago, however, earnings were down slightly when compared to the preceding quarter.

According to automotive experts, the fourth-quarter outlook for the Hyundai brand is bright, despite lingering economic woes.

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