Report: Hyundai quarterly profit up 46% to $1.75B

Hyundai had a great year, and the results will show in the form of healthy profits. According to BusinessWeek, the Korean automaker earned $ 1750000000 in the first quarter, up 46 percent over the first quarter of 2010. The total turnover of the industry by 21 percent to $ 17,000,000,000th

Sales volumes were higher as well as the 922 000 units sold worldwide nine percent. Much of that increase occurred in the plants in the U.S. and China, where production climbed by 14 percent. A richer model mix and boost Hyundai profits, such as pricing, depending on the model by an impressive 14 percent in the overseas markets and 2.5 percent in the Korean domestic market.

Hyundai impressive performance in the second quarter, helped rally stocks in Korea, and the automaker saw a gain of 7.5 percent on the day. For the year, Hyundai's shares rose a steep 44 percent.

Hyundai CEO Krafcik warns against price war, short-term thinking

Hyundai Motor America President and CEO John Krafcik believes that some car manufacturers from a price war that an unwise step that would focus exclusively on short sales.

General Motors had strong sales in January 2011, but its 23 percent gain was stronger incentives and price cutting. After moving GM made, followed in accordance with Toyota.

Krafcik said that Hyundai, which is one incentive spending among the lowest in the industry, no plans in this game must join. Heavy incentive spending and lead to sharp declines in a car manufacturer Ledger. Hyundai sales rose 24 percent in 2010 and Krafcik expects improvements in 2011 to see. While some automakers to fiddle with the radio, Krafcik is the attention to the road in front of him.