Despite sluggish markets all across Europe and China, South Korean auto major Hyundai Motors has posted a 10% rise in quarterly net profits. Hyundai, the fifth largest auto company in the world along with Kia Motors has reported a ? 2.55 trillion net profit for the second quarter of 2012. This is up from ? 2.31 net profit in the same period a year ago and a ?2.45 in first quarter of current year. This is the company's 13th straight quarter of rising profits notwithstanding current economic scenario across the auto sector.
Hyundai continues in its endeavor to offer stylish, affordable and high performance vehicles in US and European markets and it is this that has helped the company reach its targets along with assistance of a weaker won as against the dollar this year and the new South Korean free trade deal with Europe.
Despite a positive second quarter, the third quarter of 2012 has not opened on a positive note. Hyundai posted a smaller than expected 13% fall in quarterly operating profit both where cars and commercial trucks were concerned. This situation is not likely to improve in the near future either due to uncertainties in nearly all auto markets across the globe.
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