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July 26, 2015 - Hyundai Motor Company, South Korea’s largest automaker, today announced its business results for the first half of 2016. Sales volume and operating profit declined from the same period last year due to export decrease as well as weak currencies and economic recession in emerging markets.
For the first six months of 2016, sales revenue increased 7.5 percent to KRW 47.03 trillion (auto: 36.66 trillion / finance and others: 10.37 trillion) from a year earlier owing to sales increase of SUVs and GENESIS models. Operating profit fell 7.0 percent to KRW 3.10 trillion and net profit showed a 6.4 percent decrease to KRW 3.53 trillion.
Hyundai Motor Company’s cumulative global sales for the first six months totalled 2,393,241 units (Korea: 350,006 / overseas: 2,043,235), a year-on-year decrease of 0.9 percent. Slowing growth in emerging markets and impact from currency fluctuations have been the main culprit for the global sales drop.
In the second quarter alone, sales revenue posted KRW 24.68 trillion with global sales of 1,285,860 units and operating profit increased 0.6 percent to KRW 1.76 trillion, from a year earlier.
Hyundai Motor forecasts that an unfavorable business environment is likely to continue in the second half. In particular, the company anticipates further uncertainties in business conditions after the BREXIT referendum which took place last month.
Nevertheless, Hyundai Motor will continue its effort to focus on strengthening competitiveness and product quality in the global automotive market. To do so, Hyundai Motor is planning to boost sales with SUVs and strategic models.
In addition, Hyundai Motor will strengthen growth momentum with the luxury brand GENESIS models, G90 and G80, and further develop state-of-the-art technologies within new models such as the IONIQ which is offered in three eco-friendly powertrain (Hybrid, Electric, Plug-in Hybrid).
Hyundai Motor will continue its cooperation with suppliers and actively carry out more values to customers and stakeholders alike. Hyundai Motor also strives to build a more shareholder-friendly environment by increasing transparency and shareholder’s value.
July 26, 2016 – Internationally renowned conceptual artist KimSooja has received the latest commission for the MMCA Hyundai Motor Series. The large-scale installation, titled ‘MMCA Hyundai Motor Series 2016: KimSooja-Archive of Mind’, will be the latest in a 10-year collaboration between Hyundai Motor and the Museum of Modern and Contemporary Art, Korea. The partnership between the car manufacturer and the world-renowned art institution aims to instil the field of Korean contemporary art with fresh attitudes and new, invigorating possibilities.
With the next MMCA Hyundai Motor Series due to open at MMCA Seoul on July 27, 2016, KimSooja will build on her much-heralded multi-discipline approach that has seen her work acclaimed around the world. ‘Archive of Mind’ encompasses nine works of creative installation, sculpture, and pictures that examine KimSooja’s enduring interest in the meaning of oneself, others and the relationship between them. Through an exhibition that transcends space and embraces time, the audience will be encouraged to think about the issue of healing and regeneration while contemplating the conflicting concepts of tradition and modern, and distinctiveness and universality.
Wonhong Cho, Chief Marketing Officer at Hyundai Motor, said "We at Hyundai Motor are delighted to present KimSooja’s biggest solo exhibition in Korea through the <MMCA Hyundai Motor Series>. We hope that our continuous support and interest will contribute to the development of the Korean art scene and provide valuable opportunities for many people."
Exhibitions such as those at the Centre Pompidou Metz, France (2015), The Korean Pavilion at Venice Biennale (2013), and P.S. 1 Contemporary Art Center, MOMA (2001) have established KimSooja’s reputation as a representative contemporary artist of Korea. Now based in New York, Paris and Seoul, she also represented Korea at the 24th São Paulo Biennale in 1998 and has participated in more than 30 international biennials and triennials.
MMCA Hyundai Motor Series is the Museum of Modern and Contemporary Art’s 10-year long project inaugurated in 2014 in collaboration with Hyundai Motor Company to support solo exhibitions of distinguished Korean artists. The series commissions large-scale new works to artists with distinctive practices, with Lee Bul in 2014 and Ahn Kyuchul in 2015 the first artists to be given the opportunity to explore a new trajectory for their work, to inspire creativity and reinforce the foundation of Korean art and culture.
July 22, 2016 – Hyundai Motor has set out the structure, focus and first ideas of its newly-established Project IONIQ Lab in Korea. Project IONIQ Lab sets out to explore future mobility solutions through innovation, research and academic projects. It is a part of Hyundai Motor’s Project IONIQ, a long-term research and development project that predict changes in future mobility announced previously in this year’s Geneva Motor Show.
The open innovation organization enables cooperation among Hyundai Motor, academic bodies and universities. Through the Lab, Hyundai Motor will work to suggest ideas for innovative technologies and concepts of future mobility that will enrich our daily lives.
Wonhong Cho, Executive Vice President of Hyundai Motor Company said: “We are happy to announce the opening of the ‘Project IONIQ Lab’, which extends our efforts to understand future mobility and influence the concept of ‘freedom in mobility’. Hyundai Motor will advance theoretical and practical understanding, innovating to develop future mobility solutions tailored to our customers’ lifestyles.”
The Lab will explore four key areas: freedom to use mobility whenever and wherever; freedom to connect to everyday life while on the move; freedom from accidents and inconveniences; and freedom from environmental pollution and energy exhaustion.
The Project IONIQ Lab will be led by Dr. Soon Jong Lee, Professor of Seoul National University and Head of Korea Future Design & Research Institute, who will be supported by 10 researchers and 10 consultant experts. The group has already issued its first collective output, a summary of *12 future ‘megatrends’ that are likely to affect the car industry in 2030.
From a ‘hyper-connected society’ and ‘eco-ism’ to the ‘decentralization of power’ and ‘mega-urbanization’ the megatrends set out the Project IONIQ Lab’s vision of the world, explaining how mobility will interact with each trend.
Through the new Project IONIQ Lab, Hyundai Motor will predict changes in future mobility and study possible scenarios; develop new types of mobility according to changes in society and people’s lifestyles; and create new service models and mobility experiences to extend the role and definition of ‘cars’.
*12 future mega trends are included in detail within a separate attachment.
July 12, 2016 - Hyundai and the U.S. Department of Energy (DOE) are extending their fuel cell vehicle confirmation program, originally from 2013 through 2015, to its second phase, from 2016 through 2017. The program involves Hyundai providing a number of Tucson Fuel Cell CUVs for daily use and confirmation by the DOE using existing hydrogen infrastructure. This phase of the program will make significant use of a newly-opened hydrogen refueling station in the Washington D.C. region.
Phase one of the Hyundai/DOE program focused exclusively in the Southern California region, where the earliest hydrogen infrastructure existed. Phase two further expands the program’s reach to Northern California, Washington D.C., Michigan and Denver. Phase two starts in July 2016 in conjunction with the opening of the newest D.C.-based hydrogen station. Tucson Fuel Cell CUVs will use this newest DOE-developed hydrogen station extensively.
The Hyundai/DOE partnership effectively continues preparation for the rollout of fuel cell vehicles nationwide in the near future. Some key advantages of hydrogen fuel cells over battery-powered electrified vehicles is their quick refueling capability, longer range, more flexible vehicle size scalability and maintenance of range performance in colder climates.
July 4, 2016 – Hyundai Motor, South Korea's largest automaker, reports its global sales results for June 2016.
1. Commercial Vehicles (CV) include LCV, buses and trucks. 2. Hyundai Motor currently has overseas plants in Brazil, China, the Czech Republic, India, Russia, Turkey and the U.S. 3. Domestic Production relate to the vehicles produced in Korea for the overseas markets. 4. Domestic Sales is based on retail sales while Overseas Sales is based on shipments.
[Highlights] - Global sales in June 2016 totals 444,620 units – an increase of 9.1% YoY. - Elantra, Sonata and Santa Fe accelerate sales in Korea reaching an increase of 11.4% YoY. - Genesis and G90 (EQ900 in Korea) maintained strong sales momentum in June posting total sales of 5,736 units in Korea.
Breakdown of Overseas Shipment
* ‘Consignment (EU)’ includes the amount of vehicles produced by Karsan (Turkish commercial vehicles manufacturer) on consignment.
[Highlights] - SUV models and Elantra are expected to gain sales momentum in the U.S. market. - China Plant yearly sales figure improves due to economic recovery nationwide. - Sales figure reveals a solid performance in India as Creta, i10 and i20 sales show strong growth. - Sales in Russia regains with increased sales of Solaris as market conditions recover.
© 2016 HYUNDAI MOTOR COMPANY