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Hyundai Motor's profit jumps 50% on SUV demand

Automaker ramps up 'mobility solutions' transition with Uber flying car partnership

SEOUL -- Hyundai Motor's operating profit soared more than 50% last year, despite a slight sales drop as the South Korean automaker benefited from improved profitability and popularity of its sport utility vehicle models.

Hyundai said on Jan. 22 that its operating profit hit 3.7 trillion won ($3.2 billion) in 2019, up 52.1% from a year ago. Its net profit almost doubled to 3.3 trillion won during the same period. The figures are all the more impressive given that its global sales volume fell 3.6% to 4.4 million units last year.

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