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Hyundai Motors. (Photo=Yonhap News) |
[Alpha Biz= Reporter Paul Lee] Hyundai Motor said in a conference call for its first-quarter management performance that the increase in sales incentives is attributable to a drop in demand for electric vehicles. He said he would manage the level of incentives by increasing the proportion of hybrids and SUVs.
Hyundai Motor said, "We will manage the overall incentive level by increasing the proportion of SUV and hybrid sales."
Meanwhile, Hyundai Motor's sales management cost in the first quarter of this year was 4.87 trillion won. This is an increase of 18% from the previous year (4.12 trillion won).
Salaries and marketing costs that make up the sales and government expenses were similar to the previous year, but sales guarantee costs, including incentives, surged from 511 billion won to 983 billion won. Hyundai Motor's operating profit fell 2.3 percent on-year to 3.5574 trillion won during the period.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
