Strong result driven by higher sales volume, consistent cost management and focus on efficiency.
Increased deliveries of the Portofino M, the 296 GTB and the 812 Competizione models boosted the automaker's first-quarter earnings.
People keeping vehicles longer and driving more miles is increasing parts and service needs.
Hyundai may not maintain its EV sales momentum if it can no longer qualify for U.S. tax credits under the Biden Administration’s Inflation Reduction Act.
The Japanese automaker forecasts operating profit for the fiscal year will hit 360 billion yen ($2.5 billion), up 100 billion yen from its July forecast.
Demand for new vehicles in the United States remains strong despite rising interest and loan rates, reported CEO Tomomi Nakamura.
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