The largest South Korean carmaker Hyundai please their shareholders with news that profits for the last three months of 2009 increased nearly four-fold. This helped and government programs in many countries around the world to promote sales of new and more efficient vehicles, police Bloomberg. The net profit of Seoul-based car company is increased to 945.5 billion South Korean won (821 million dollars) for the fourth quarter of last year from 243.5 billion won profit a year ago. This was more than market expectations for a positive financial result of 815.6 billion won. Hyundai sales in the fourth quarter rose by 9.3 percent annually to 9.65 trillion. won. Leadership plans to market in South Korea for at least three new models this year. This continues to be the most profitable market for the company as sales there rose by 63% yoy in the fourth quarter. Throughout the past year the retail sales of Hyundai’s worldwide increased by 14 percent to a record 3.2 million vehicles. The company’s market share is increasing in the United States, China and India. The global market share of the company last year reached 5.2 percent, according to Chief Financial Officer of Hyundai Hee Lee Vaughn.
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