While the U.S. auto market was setting records for poor performance in 2009, it turns out that Hyundai was delivering a record of its own: The South Korean OEM just notched its best quarter ever, with net profit for the last three months of last year reaching $822 million; that’s more than four times better than Hyundai’s 2008 fourth-quarter performance. In addition, Hyundai-owned Kia set a fourth-quarter record as well, seeing its profit for that period climb to $524.2 million in 2009, as compared to about $64.5 million in Q4 of 2008.
The duo’s steadily improving products are making the difference, with vehicles like the Hyundai Elantra, Hyundai Sonata, Kia Sorento, Kia Forte and Kia Forte Koup all attracting plenty of customers.
What’s especially notable is how much—and how quickly—fuel efficiency has been improved. At the end of 2008, Hyundai claimed it would become the most fuel-efficient automaker in the country, and the company reached that goal just a year later. Per Hyundai, “The EPA 2009 Light-Duty Automotive Technology and Fuel Economy Trends Report indicates that Hyundai has the highest MY 2009 laboratory 55/45 fuel economy with 30.1 miles per gallon (mpg). Hyundai is also the only automaker to top 30 mpg in the report.”
Further, the American Council for an Energy-Efficient Economy recently honored two Hyundais for the efficiency, putting the Sonata on its “Greener Choices 2010″ list (for the third consecutive year) and adding the Hyundai Accent “Blue” model to its “Greenest Vehicles of 2010″ rankings. As an FYI, the Sonata puts up a line of 22/32/25 in the EPA’s city/highway/combined ratings, and the Accent goes an even more impressive 27/36/31.
Hyundai America product manager Michael Deitz said, “As we head into 2010, you’ll be seeing more Hyundai Blue Drive initiatives and our dedication to identifying fuel economy solutions.”
It seem that yet another record-breaking year for Hyundai won’t be out of the realm of possibility either.
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