4/25, 7:31 AM (Source: TeleTrader)
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Hyundai's Q1 revenue up 10% to $24.27 billion

Hyundai Motor Co. reported on Monday that its revenue jumped 10.6% in the first quarter of 2022 compared to the same period a year earlier to reach $24.27 billion. Interestingly, Hyundai saw a 153.4% surge in its quarterly net income of $1.42 billion.

The South Korean carmaker confirmed it sold 19,818 units globally, 6.2% more compared to the first trimester of 2021, with the largest increase seen in Europe, the United States and South Korea. The sales of electric vehicles nearly doubled over the past year.

Commenting on ongoing challenges, Hyundai said it was registering a continued parts shortages due to COVID-19 lockdowns in China.

Baha Breaking News (BBN) / ND