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Hyundai Reports 47% Increase In Net Profits For Q1
Hyundai which is the world's fifth-biggest carmaker together with affiliate Kia Motors reported a 1.88 trillion won ($1.75 billion) net profit for January-March, up from 1.28 trillion won a year ago. It has been said that Hyundai outperformed its global peers in the last quarter with popular models such as the Sonata mid-sized sedan and the Elantra compact in the United States, South Korea and other markets.
Also it is reported that its production was unharmed by Japan's supply crisis since it is less dependent on Japanese parts than its overseas rivals. In the past month, shares in Hyundai have raced ahead and far outperformed major overseas peers. Shares of Hyundai Motor jumped 23 percent as against the wider market's 7.4 percent gain.
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