On April 25th, it was reported that Hyundai Motor has announced its first-quarter performance today. Its revenue reached 37.78 trillion won (US$30.3 billion), a year-on-year increase of 24.7%, and operating profit increased by 86.3% year-on-year to 3.59 trillion won (approximately US$2.85 billion).
According to data from Hyundai Motor, they sold a total of 1,021,712 vehicles worldwide in the first quarter of this year, a year-on-year increase of 13.2%, of which 830,665 were sold in overseas markets, an increase of 10.7%, and 191,047 were sold in the Korean market, an increase of 25.6%.
Although Hyundai Motor’s financial report revealed a significant increase in their first-quarter sales, mainly due to the increase in car production after the stable supply of semiconductor and other components, the significant increase in sales of electric vehicles is also an important factor in their year-on-year sales growth, according to their announcement.
Hyundai Motor’s data shows that in the first quarter of this year, they sold nearly 66,000 electric vehicles worldwide, a year-on-year increase of 48%, far higher than their overall year-on-year sales growth rate.
However, compared with leading companies in the electric vehicle industry, Hyundai Motor still has a significant gap. In the first quarter of this year, Tesla produced 440,800 electric vehicles and delivered over 420,000 to consumers; BYD’s sales of pure electric passenger vehicles also exceeded 260,000 in the first quarter.
