Hyundai quarterly profit jumps 37%

Hyundai Motor Company announces a 37 percent rise in second-quarter earnings!

According to latest reports, Hyundai’s net profit during the second quarter of the year rose 37 percent to $2.2 billion! In the three months period Hyundai sold 1.04 million vehicles worldwide. This is a new milestone for the brand since it has happened for the first time ever that the carmaker has sold more than 1 million vehicles in a quarter.

In the first six months of the fiscal year, Hyundai sold 1.9 million vehicles globally. The number represents a 11% increase in sales compared to a year ago. Domestically, the automaker sold 343.896 while in the overseas markets, it sold 1.6 million vehicles. Hyundai’s best-selling car in South Korea and overseas markets were Grandeur near-luxury sedan and Elantra compact sedan.

With a total of 60.077 units sold, the Grandeur has been the second best-selling car in Korea during the first half of 2011. Known also as Azera in some International markets, the Grandeur will make its worldwide public debut at the up-coming Loa Angeles Auto Show (read more: Hyundai Azera release date).

Solid sales growth should continue during the second half of the year, says Hyundai, while automobile experts state that Hyundai’s expansion could slow amid the faltering global economic growth. Hyundai may also lose some momentum in the coming months as Japanese carmakers are expected to recover from disrupted auto production. The Japanese rivals such as Toyota, Nissan and Honda aim to unveil a range of new vehicles and boost their production back to pre-earthquake levels.