Hyundai recently reported successful quarterly profits, posting a fivefold jump in its first-quarter net profit. Hyundai’s income also increased by $1 billion in the past three months ending on March 31 when compared to the same period last year.
Helping achieve Hyundai’s staggering success were all-new models that included the 2011 Sonata sedan and the 2010 Tucson compact crossover. The Korean automaker has also continued to offer its industry leading Hyundai Assurance Program, which give buyers the opportunity to return their vehicle should they lose their job or otherwise cannot continue making payments on the vehicle.
“With a better product portfolio and worldwide recovery in auto demand, Hyundai should continue its earnings and market share expansion,” said Heo Pil Seok, CEO at Midas Asset Management Co. “Its brand and quality is steadily improving, narrowing the gap with leaders like Toyota.”
Hyundai has successfully changed perceptions over the years with a string of stylish new products. Its vehicles have not only continued to see sales success in Europe and in the U.S., but Hyundai has also been making inroads in developing markets, particularly in China and India.
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