Hyundai Profits Increase by 48% in Second Quarter

Hyundai have announced that its second quarter net profits have increased by 48%, this record increase has been helped by shareholding gains from affiliates in India and China, as well as tax incentives, which helps to increase domestic sales.

Hyundai which is South Korea’s largest carmaker by sales alone has said that its net profit for the three months ending June 30 were 811.9 billion won ($648.7 million), that is up from 546.9 billion won from the same period last year.

According to The Wall Street Journal, Hyundai will try to boost sales in the second half of 2009 by launching new models, such as the 2010 Hyundai Verna Transform / Accent. The automaker will also focus on growing emerging markets, such as India and China.

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