Hyundai Makes More Money but Profit Goes Down
Introduction
Hyundai Motor Company shared its money report for the first three months of the year. The company made a lot of money from sales. However, the company's profit went down.
Main Body
From January to March, Hyundai made 45.9 trillion won. This is more than last year. But the profit was only 2.5 trillion won. This is 31 percent less than before. The company lost money because of taxes in the USA. Also, fewer people bought cars in the Middle East. A fire at a parts factory stopped some work. Hyundai also stopped selling the Palisade SUV for a short time. But many people bought hybrid cars. These cars are 17.8 percent of all sales. Now, Hyundai wants to sell electric cars in China. They will work with BAIC Group and CATL. Hyundai is also making new software with Nvidia. Their robot company, Boston Dynamics, will build a bigger factory by 2028.
Conclusion
Hyundai had some problems with money and parts. But the company is still positive. They believe they will make more profit later this year. They will sell new cars and use new parts to grow.