Learn more

South Korean carmaker Hyundai recorded a sharp rise in profits last year thanks to the growing popularity of its more expensive models, but cautioned that 2024 could prove more difficult. Net profit rose by 54% year-on-year to 12.27 trillion won (around $9.1 billion) in 2023, the company said on Thursday. In the final quarter alone, net profit rose 29% to 2.2 trillion won. Hyundai logged a 14.4% increase in annual sales to 162.7 trillion won. Last year, the company sold 4,216,898 vehicles worldwide, up 7% from 2022. The company attributed the strong growth primarily to rising sales of its SUV …

cuu