[Asia Economy Reporter Oh Ju-yeon] Automobile-related stocks, including Hyundai Motor Company, are showing strong performance. This is interpreted as expectations following the launch of Genesis, Hyundai's luxury brand's first large SUV, the GV80.
As of 2:50 PM on the 16th, Mando was trading at 35,350 KRW, up 3.51% from the previous trading day. Kim Jun-sung, a researcher at Meritz Securities, analyzed, "Mando's advanced driver assistance system (ADAS) sales have continued rapid growth through increased adoption rates by Hyundai and Kia consumers and expanded parts supply market share," adding, "The confirmed high demand for Hyundai Motor's GV80 is raising expectations for increased ADAS sales."
At the same time, Hyundai Motor was trading at 118,500 KRW, up 3.04% from the previous trading day. Foreign investors sold stocks worth 31.1 billion KRW, while institutions net purchased stocks worth 17.6 billion KRW. Hyundai Mobis's stock price was formed at 249,500 KRW, up 1.84%.
In the KOSDAQ market, Hyundai Gong-yeop, an automobile parts company, rose sharply. Hyundai Gong-yeop was trading at 3,530 KRW, up 17.08% from the previous trading day.
Meanwhile, on the same day, Hyundai Motor announced plans to significantly increase exports of eco-friendly vehicles, including hydrogen fuel cell vehicles, this year to proactively respond to strengthening environmental regulations worldwide. Accordingly, the company stated its goal to sell 11,000 units of the hydrogen fuel cell vehicle exclusive model 'Nexo' domestically.
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