South Korean automaker Hyundai Motor reports record $7.2 billion profit last year The USA Times

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Friday, May 25, 2012

South Korean automaker Hyundai Motor reports record $7.2 billion profit last year

(A customer looks at a Hyundai Motor Co.'s i40 wagon at a showroom in Seoul, South Korea, Thursday, Jan. 26, 2012. Hyundai Motor Co. said its 2011 earnings reached a record high on increased demand at home and abroad.(AP Photo/Ahnn Young-joon)

SEOUL, South Korea - Hyundai Motor Co. says its 2011 earnings reached a record high on increased demand at home and abroad.

The company said Thursday that its net profit reached 8.1 trillion won ($7.2 billion) last year. The company had earned 6 trillion won a year earlier.

Company officials said in a telephone conference that sales increased in countries such as the United States and China as well as at home.

Hyundai Motor is South Korea's largest automaker and is a major force in the global auto industry.