In the U.S., Hyundai Motors has been reporting month after month of stunningly good sales numbers. Those repeat performances showed up on the South Korean auto company’s bottom line for the second quarters with its best profit in six years: $1.57 billion.
In fact, the company’s quarterly sales results were up 46.5% globally, jumping from 703,976 units to 1.03 million for the period. Strong results from its luxury unit Genesis help bulk up those numbers, officials noted, as well as outside of its home market.
“Sales of SUV models and Genesis luxury brand models drove the momentum in sales volume, and declining incentives helped lift revenue and profitability in the second quarter as the ongoing recovery from the global COVID-19 pandemic spurred automotive demand,” Hyundai said in a statement.
The profit of $1.57 billion was significantly higher than the pandemic-plagued 2020 result of $197.4 million. The results were in line with analysts estimates.
