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Hyundai Motor and Kia poised to surpass $72 billion in total market value

Seoul, April 14 (IANS) The combined market capitalisation of Hyundai Motor and Kia is poised to exceed 100 trillion-won ($72.2 billion) this year. Currently valued at 94.38 trillion won, the two companies are expected to see a boost due to strong sales performance.

Since the beginning of 2024, Hyundai Motor’s stock price has surged by 16.9 per cent, while Kia’s stock price has increased by 9.8 per cent. Although their combined market capitalisation briefly crossed the 100 trillion-won mark last month, it has since receded.

Industry experts anticipate that Hyundai Motor and Kia will bounce back above the 100 trillion-won mark, thanks to enhanced sales performance focusing on premium models. Despite a decrease in the number of vehicles sold in the first quarter, both automakers are expected to see growth.

According to Yonhap Infomax’s analysis of earnings forecasts from brokerage firms, Hyundai Motor is projected to report sales of 39.66 trillion won in the first quarter, a 5 per cent increase from last year. On the other hand, Kia is expected to report a 4.4 per cent year-on-year sales increase, reaching 24.73 trillion won for the same period.

IANS

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