Emerging Markets Bolster Hyundai's Growth

South Korean carmaker Hyundai has cited its product mix and the ability to diversify its overseas markets as prominent factors in the 6.8% growth in its global sales in 2008. The company sold a total of 2,796,370 units during the year, comprising 1,668,745 units produced in South Korea and 1,127,625 units produced overseas. Revenues were also up, by 5.1% y-o-y to KRW32.19trn, although profits fell by 13.9% to KRW1.448trn, with operating profits down 3.5% to KRW1.877trn. This was attributed to increased marketing and brand development costs, but Hyundai claims that cost-cutting measures implemented during the year slowed the rate at

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