Input 2021.01.26 16:21
On the same day, Hyundai Motor Company also specifically revealed its sales target and strategy for this year. The target number of units sold this year is 4.16 million units, an increase of 11.1% from last year, 740,500 units domestically and 3.418,500 overseas units. Ioniq 5, which will be equipped with the exclusive electric vehicle platform E-GMP for the first time this year, will be released sequentially in Korea and the US starting in Europe in March.
Genesis is also planning to expand its electric car lineup this year by releasing G80 electric vehicles and small and medium-sized sports utility vehicles (SUVs) based on a dedicated platform. The sales target for electric vehicles this year was set at 160,000 units, up 60% from last year’s 100,000 units.
Hyundai Motor Company announced that it recorded 104 trillion won in sales and 2.78 trillion won in operating profit last year at the ‘2020 Business Performance Conference Call’. Sales exceeded 100 trillion won for the first time in 2019 and reached 100 trillion won for two consecutive years. Net profit fell 33.5% from the previous year to 2.2 trillion won.
The number of units sold was 780,847 units in Korea and 2,956890 units overseas, a total of 374,4737 units. This is a 15.4% decrease from the previous year. Domestic demand increased 6.2%, while overseas decreased 19.7% due to Corona 19.
Looking at the proportion of sales by vehicle type, SUVs, which are high-margin vehicles, recorded 43%, up 1.1 percentage points from the previous year due to strong sales such as Palisade and Tucson. Genesis was counted at 3.7%, an increase of 2 percentage points over the same period.
Looking at the fourth quarter of last year alone, operating profit was 1.64 trillion won, an increase of 40.9% from the same period last year. As the proportion of high-margin cars such as sports utility vehicles (SUV) and Genesis GV80 and G80 increased, operating profit improved significantly. The operating margin was 5.6%, exceeding 5% for the first time since the third quarter of 2017 (5.0%). The sales amounted to 29.4 trillion won, up 5.1% from the same period last year.
The total number of units sold in the fourth quarter was 1.34,200 units in Korea and 935400 units overseas. Domestic demand increased by 5.0% while overseas decreased by 6.6%, down 4.7% from the same period last year.
Hyundai Motor Company has set sales targets for the global market this year, with a total of 4.15 million units, including 740,500 units in Korea and 3.418,000 units overseas. The operating margin target was set at 4-5%. For future growth, the company plans to invest a total of 8.9 trillion won this year, including 4,500 billion won in facility investment, 3.5 trillion won in R&D, and 900 billion won in strategic investment.
Hyundai Motors predicted that global auto demand would rebound this year. Accordingly, it plans to achieve the sales target by sequentially launching luxury cars such as Genesis, SUVs, and electric cars in the global market.
In the case of electric cars, four models will be released this year. First, the Mistra EV will be released in China, and the Ioniq 5 will be introduced in Europe in March. Ionic 5 will be released sequentially in Korea and the US afterwards. Electric vehicles sold 100,000 units in the global market last year, but this year’s goal is to sell 160,000 units, an increase of 60%.
Genesis sold 128,000 units, up 46% year-on-year through the launch of the new G80 and GV80 last year. This year, it is planning to launch a small and medium-sized SUV based on a G80 electric vehicle and a dedicated platform. It plans to build an eco-friendly premium brand image by gradually expanding the electrification lineup in the future. In particular, the GV70, which was released at the end of last year, will be introduced to the US market in the first half of the year. The Genesis brand sales target this year is 200,000 units.