Hyundai’s first quarter net profit

Hyundai Motor (47.69, 0.09, 0.19%) reported on Thursday that its net profit in the first quarter increased by 187% year-on-year due to strong demand for high margin SUV models and luxury car brand genesis, but the shortage of chips may undermine its growth momentum.

Hyundai's first quarter net profit

The company’s net profit for the quarter was 1.3 trillion won (US $1.16 billion), up from 463 billion won a year earlier. This performance is in line with analysts’ expectations in the LFT smart estimate survey.

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