Hyundai Motor & Kia Set To Top $72 Billion In Combined Market Cap - Eastern Mirror
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Hyundai Motor & Kia set to top $72 billion in combined market cap

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By IANS Updated: Apr 14, 2024 2:58 pm
Hyundai Motor & Kia set to top $72 billion in combined market cap
Hyundai Motor & Kia set to top $72 billion in combined market cap (IANS)

SEOUL — The combined market capitalisation of Hyundai Motor and Kia is widely expected to surpass the 100 trillion-won ($72.2 billion) mark this year, according to industry watchers.

Currently, the combined market capitalisation of the two companies stands at 94.38 trillion won, with Hyundai Motor valued at 50.23 trillion won and its sister unit Kia valued at 44.14 trillion won.

Since the start of 2024, Hyundai Motor’s stock price has climbed by approximately 16.9 per cent, and Kia’s stock price has risen by 9.8 per cent, reports Yonhap news agency.

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Their combined market capitalisation once surpassed 100 trillion won last month but has receded.

Industry observers expected the companies’ market cap to bounce back above 100 trillion won, as the automakers have shown signs of upgraded sales performance centred on pricier value-added premium models, despite an on-year decrease in the number of vehicles during the first quarter.

According to a recent analysis by Yonhap Infomax of earnings forecasts from various brokerage firms, Hyundai Motor is expected to report 39.66 trillion won in sales for the first quarter, up 5 per cent from last year.

Kia was projected to report a 4.4 per cent on-year increase in sales, at 24.73 trillion won, for the period.

6091
By IANS Updated: Apr 14, 2024 2:58:26 pm
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