Net profit for three months ended in June rose to 3.08 trillion Won (US $ 2.34 billion) from 1.98 trillion Won over the same period last year, the company said in a statement.

In the six -month period, Hyundai sold a total of 1.88 million vehicles, reaching 43 percent of its sales target of 4.34 million units for this year.

The point is the second quarter is supported by an increase in the sales of the Independent Hyundai brand genesis model, decreased incentives and weaknesses of Won to the dollar, reported the Yonhap news agency.

The dollar rose to average 1,259.57 Won in the second quarter of 1,121.23 Won a year ago, according to Bank Korea.

Such factors help compensate for the loss of car makers producing from prolonged chips and disruption of spare parts, Hyundai said.

In the future, Hyundai said the higher raw material price produced from the Russian-Ukraine War, the revival of Pandemi Covid-19 and inflation in the midst of an increase in interest rates would remain uncertain for the car industry.

Operating profit jumped 58 percent to 2.98 trillion Won in the June quarter from 1.89 trillion Won a year ago. Sales rose 19 percent to 35.99 trillion won from 30.33 trillion Won.

From January to June, net profit rose 39 percent to 4.86 trillion Won from 3.50 trillion Won in last year’s period.

Operating profit also jumped 39 percent to 4.91 trillion Won in the first six months of 3.54 trillion Won. Sales rose 15 percent to 66.29 trillion Won from 57.72 trillion Won.

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Elara Gill

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