[RahulNagaraj]

Hyundai Motor Group has reportedly surpassed the Volkswagen Group in terms of operating profits during the first quarter of 2024. The South Korean carmaker registered the second-highest operating profits in the global automotive industry, registering $5.09 billion. Volkswagen dropped to third with $4.94 billion.



Leading the charts, though, was Toyota. The Japanese carmaker registered $7.15 billion in operating profits during the same period.

Reports also state that Hyundai had the highest profit margin of 10.4%. The carmaker even surpassed Toyota's 10% profit margin while also beating carmakers like GM, Volkswagen and the Renault-Nissan-Mitsubishi Alliance.

Source: KoreanEconomicDaily

Link to Team-BHP news

[xjosephjacob]

Insane ! From being the butt off all jokes, to one of the biggest carmakers globally, all just in a couple of decades. Koreans sure knows a thing or two about perseverance.

From:
Hope You Understand Nothing's Drivable And Inexpensive

To:
Happily YoU'll appreciate Now, we are Dependable And Innovative

PS: We owned an Accent in 2000's, and it was, well, crap

[sanjeevs]

Strange though it seems, earlier the Koreans were known as cheap and design copiers. Now they are breathing down the neck of the market leaders for a tight finish.

[driven646]

I've been using a Hyundai Alcazar as a beater car & it's surprisingly excellent - done over 50k in less than 2.5 years, driven over some pretty rough roads in Himachal with no issues at all thus far.

Not as fun to drive as the VW Tiguan, but a lot more practical & comfortable to sit in when driven by someone else. The Tech it has is top notch.

Very happy with the purchase & not surprised Hyundai has reached where it has.

[gck_tourer]

Indian government has to force these Korean and Japanese conglomerates to list on Indian bourses. They have earned huge profits from this land. Time to give back some. LG, Samsung, Hyundai, Kia, Toyota, HMSI, Panasonic, etc. They are so entrenched in the businesses now that they won't have a choice but to list.

[ToThePoint]

Not surprised at all! These guys are just relentless in their pursuits and not ones to sit on their laurels, continuously improving their products, finding new opportunities, new markets, new segments - you name it and the Koreans would be thinking about it and chalking plans somewhere!

Kudos to their perseverance!

[AMG Power]

Incidentally, Hyundai also leads the 2024 World Rally Championships:

[desdemona]

For CY 2023 it was Stellantis that was the firm with the industry best net margins (on 20billion euros plus net profits.)

Not counting Ferrari of course. Aggregate total profitability of Toyota was great, margins much less so (much less than Stellantis and Mercedes and Porsche.)

Note that Toyota has a debt to equity ratio of about 1, while Stellantis has net cash of about 50billion usd. That is because Toyota has had, and continues to, access to free debt from a money printing Japanese Central Bank: their cost of (debt) capital is near zero! So their net profitability is optically much better.

Hyundai-Kia also have a quasi sovereign near zero cost of capital via Korean government/Central Bank, and are a huge chaebol (including in banking!) even beyond cars.

Also both Toyota and Hyundai-Kia have the incredible advantage of very very depreciated yen and won versus hyper strong dollar (Euro is strong ish, too) for their huge exports of cars and components, engineering services etc to, especially, N America (and Europe.)