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Hyundai set for 4.3m model record

2012-10-26 09:19

SEOUL, South Korea - South Korean automaker Hyundai has posted higher-than-expected profits, exceeding analysts' expectations, despite the global economic downturn.

South Korea's largest automaker sold nearly 3.2-million vehicles in the first nine months of 2012 and posted a third-quarter net income up by 13% or $17-billion, from 2011.

'STRONG IN CHINA'

The automaker predicts its final sales figure for 2012 to be 4.38-million units.

Chief financial officer Lee Won Hee added that the company was in a strong position in China, too, and forecast sales there would be in the range of 820 000 to 830 000 vehicles by the end of 2012.

Hyundai has sold 4.03-million vehicles so far in 2012, crossing the four-million threshold for the first time.

DPA