Hyundai's May 2024 Sales and Its Milestone in the Automobile Industry

TapTechNews June 5, according to the news, Hyundai Motor Company has now announced the global sales data for May 2024: the total global sales are 356,223 vehicles, an increase of 1.9% year-on-year; and the global sales of more than 17,000 electric vehicles.

Among them, Hyundai's May sales in the South Korean market was 62,200 vehicles, a decrease of 9.4% year-on-year; and the May sales in markets outside South Korea was 294,023 vehicles, an increase of 4.7% year-on-year.

Hyundai Motor Group in South Korea just released the first quarter financial report of 2024 last month. The Q1 operating profit surpassed that of the Volkswagen Group for the first time and became the world's second-largest profitable automaker, marking an important milestone in its development process.

Hyundai Motor Group's three major automakers - Hyundai Motor, Kia Motors, and Genesis - achieved a consolidated operating profit of 6.98 trillion Korean won (TapTechNews note: currently about 36.924 billion Chinese yuan) in the first quarter.

In addition, Hyundai Motor Group has already surpassed Toyota in terms of Q1 operating profit margin. Hyundai Motor Group's operating profit margin is 10.4%, ranking first among global automakers. The operating profit margin of Toyota in the same period is 10%, and the operating profit margins of General Motors and Volkswagen Group are 8.7% and 6.1%, respectively.