Hyundai Motor Announces First Quarter Earnings

- Net profit 225 billion won, sales 6 trillion won
- Global market share rises to 4.7% from 4.0% Y-o-Y on higher sales in emerging markets

(Seoul, Korea April 23, 2009) Hyundai Motor Company, South Korea’s largest automaker, sold 621,718 units (domestic & exports: 316,366 units, overseas plants: 305,352 units) worldwide in the first quarter, a 13.3 percent decline from a year earlier as global demand for automobiles fall.

Net profit for the first three months of this year stood at 225 billion won, falling 42.7 percent from a year earlier. Operating profit declined 71 percent to 153.8 billion won as the company spent more on marketing expenses to raise brand awareness and enhance dealers. Sales decreased 26.4 percent to 6.03 trillion won.

Hyundai Motor’s global market share rose to 4.7 percent in the first three months of the year, compared to 4.0 percent a year earlier. The automaker achieved this by strengthening its sales efforts in existing markets, as well as boosting activities in emerging markets to create new sales.

Compared to competitors, Hyundai Motor posted a limited decline in sales through its diversified sales portfolio and competitive lineup of fuel-efficient models. The company will continue to improve profitability of its small- and medium-sized cars, while introducing new, higher-end models. Hyundai will also maximize the benefits of the favorable exchange rate and increase its market share.

Demand in advanced markets is falling by two-digits and even demand in emerging markets is dampening. Hyundai Motor plans to overcome the current challenges in the market by increasing its brand awareness and executing regional marketing strategies, as well as supplying the right models at the right time. For example, the automaker’s “Hyundai Assurance Program” in the U.S. has helped spur sales amid depressed market conditions, while at the 2009 Shanghai Auto Show which started this week, Hyundai introduced its third China-exclusive model, the BT01.

Visit http://ir.hyundai-motor.com/eng/index.html for a detailed report on quarterly results.