Hyundai Q4 Profits Leaps 57% On Crossover And Genesis Sales

Hyundai Motor said on Tuesday it expects sales in U.S. and China to surge this year, driven by the launch of new electric vehicles and crossovers, after reporting its best quarterly profit in more than three years.

Fourth-quarter profit jumped 57 percent to 1.3 trillion won ($1.2 billion) on demand for high-margin crossovers and its premium Genesis cars, but vehicle sales fell 4.7 percent amid a broader economic weakness due to the COVID-19 pandemic.

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