Shulou(Shulou.com)11/24 Report--

January 29 news, according to foreign media reports, Hyundai Motor has announced on its official website its sales and performance in the fourth quarter of last year and the whole year, an increase over the same period last year, and set a target for this year.

According to Hyundai's website, they sold 1.0388 million vehicles in the fourth quarter of last year, up 8.1% from a year earlier; revenue was 38.52 trillion won (currently about 211.86 billion yuan), up 24.2% from a year earlier; and net profit was 1.7 trillion won (currently about 9.35 billion yuan), up 143.8% from a year earlier.

For the whole of 2022, Hyundai sold 3.9429 million vehicles, up 1.3% from a year earlier; revenue was 142.53 trillion won (currently about 783.915 billion yuan), up 21.2% from a year earlier; and net profit was 7.98 trillion won (currently about 43.89 billion yuan), up 40.2% from a year earlier.

For 2023, Hyundai said it aims to sell more than 4.32 million vehicles, with revenue up 10.5 per cent year-on-year and operating margins of 6.5-7.5 per cent.

Hyundai also disclosed on its website that it plans to expand its investment to 10.5 trillion won (currently about 57.75 billion yuan) in 2023, including capital expenditure of 5.6 trillion won (currently about 30.8 billion yuan), research and development spending of 4.2 trillion won (currently about 23.1 billion yuan) and strategic investment of 700 billion won (currently about 3.85 billion yuan).

In terms of heavily invested and rising sales of electric vehicles, Hyundai says it will launch new KONA electric vehicles and IONIQ 5N this year, and expects IONIQ 6 to reach more markets around the world, boosting sales of electric vehicles.

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