On April 27, South Korea's top auto parts maker Hyundai Mobis released its first-quarter earnings results. Sales jumped 6.8 percent to 9.3 trillion won in the first quarter; operating profit gained 2.2 percent to 718.4 billion won. Pre-tax net profit ascended 11.4 percent to 795.2 over the same period.
Hyundai Mobis said it made a good showing in the January-March period thanks to the robust sales of SUV-related parts and high-end vehicles parts in and outside the nation.
While falling shipments of modules to China weighed down on its earnings, the strong performance of the A/S components business helped improve the company’s profitability. Sales of modules and key components went up 6.4 percent to 7.67 trillion won.
The A/S components business climbed 8.5 percent on the back of growth in the number of units in operation (UIO) in and outside the country and economic rebounds in the US and Europe.