Car maker Hyundai Czech turns to USD 23.6mn profit in H1.

By bne IntelliNews November 8, 2010
Hyundai Motor Manufacturing Czech, which operates the Nosovice plant of South Korean car manufacturer Hyundai, reported a USD 23.6mn (CZK 404mn) profit for the first half of 2010, versus a USD 38.2mn (CZK 654mn) loss a year ago, E15 daily informed. The company's last year results were negatively influenced by the launch of the plant's production and the global crisis which considerably reduced demand. Hyundai sales surged by 63% y/y to CZK 18.6bn in H1 2010. According to data of the Automotive Industry Association SAP, Hyundai, which launched operations at end-2008 with 12,050 cars, produced 143,839 units in Jan-Sep, up 84% on the year and 19.9% higher than the whole-2009 production. This week (Nov 8-12) the company is expected to produce its 300,000th car. In 2011, the company will launch the production of ix20 model, thus increasing the number of employed by 1,000 people to 3,600. South Korean Hyundai holds a 69.4% stake in the Czech company.
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