Hyundai Motor expects 54% jump in Green car sales to 330،000 globally

Hyundai Motor Co.، the South Korean vehicles maker of the Ioniq 5 model said this week it expects an ambitious 54 % jump in Green car (EV) sales by the end of this year to more than 330 thousand units globally and to climb 150 % in its U.S. electric car sales to increase to 73 thousand units to account for 9 % of its U.S market.

Increased Green car (EV) growth after strong quarterly profit

U.S. News & World Report said that Hyundai Motor Co.، the South Korean vehicles forecasts in 2023 strong Green car (EV) growth after quarterly profit jump as its net profit surged 143.8% to 1.7 trillion won ($1.39 billion) for the last three months ended in last December، more than double its result from the last quarter in 2021.

Hyundai Motor Co.، the South Korean vehicles revenue rose 24.2% to 38.5 trillion won in the October-to-December period، year on year and operating profit jumped 119.6% to 3.4 trillion won ($2.8 billion) in last quarter.

Strong business results led by increased sales for electric cars

The quarterly net profit of Hyundai Motor Co.، the South Korean vehicles came in below the forecasts of 2.385 trillion won، but the still-solid earnings growth could validate what the company described as strong business results led by increased sales for higher-end sport utility vehicles and luxury brand models including Green cars (EV) amid a favorable foreign-exchange environment.

Hyundai Motor Co.، the South Korean vehicles forecasts strong growth in Green cars after quarterly profit jump thanks to solid backorder demand in major car markets and expects robust growth in electric vehicle sales، including in the United States.

The South Korean maker aims to sell 4.32 million vehicles includind Green cars

The South Korean maker of the Ioniq 5 model aims to sell 4.32 million vehicles includind Green cars globally this year and targets revenue growth of 10.5%-11.5% and expects a 9.6% jump in North American vehicle sales and a 20.5% surge in China car sales.

Hyundai Motor Co.، the South Korean vehicles also plans to invest 10.5 trillion won as its operating profit more than doubled in the fourth quarter from the same period the pevious year since it strengthens its lineup of electric cars in the global market.

Hyundai Motor Co. posted record revenue for the full year

Hyundai Motor Co.، the South Korean vehicles، posted record revenue and operating profit for the full year as revenue in last year rose 21% to 142.528 trillion won and operating profit jumped 47% to 9.820 trillion won.

Seo Gang Hyun، an executive vice president of Hyundai Motor Co.، the South Korean vehicles confirmed that strong earnings in last quarter continued thanks to increased sales volume and solid sales of high-margin vehicles including Green cars (EV) or electric cars as well as favourable exchange rates.