WKSP - Volkswagen Gets Surpassed Even By Hyundai | Benzinga
During the first three months of 2024, Hyundai Motor Group (OTC: HYMTF) surpassed Volkswagen Group (OTC: VWAGY) in terms of operating profit, taking its second place, with Toyota Group (NYSE: TM) remaining on the global auto industry throne.
Hyundai Surpassed Volkswagen, While Toyota Fefended Its Throne
For the first quarter, the South Korean automaker reported operating profit of $5.09 billion, slightly above $4.94 billion that the German automaker reported, led by $7.15 reported by the Japanese automaker.
With Hyundai Motor, Kia, and Genesis brands, Hyundai Motor Group has a diverse portfolio that includes internal combustion engines, EVs, as well as hydrogen-powered cars, and that is its core strength. Like Tesla Inc (NASDAQ: TSLA), Hyundai Motor has also been hit by the EV slowdown, but its EV sales have significantly grown over the years. Moreover, it continues to invest in ...