SEOUL — Hyundai Motor raised its annual sales and profit margin guidance on Wednesday, after recording a 15 percent rise in quarterly net profit helped by a weaker won currency, robust sales of electric vehicles and increased production.
The world’s No.3 automaker by sales together with affiliate Kia forecast 2023 revenue would grow 14-15 percent, up from its January guidance of 10.5-11.5 percent, while its operating profit margin was upwardly revised to a range of 8-9 percent from 6.5-7.5.
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