Hyundai announces record earnings

Hyundai Motor said its 2011 earnings reached a record high on increased demand at home and abroad.

The company said today that its net profit reached 8.1 trillion won (€5.5bn) last year. The company had earned six trillion won a year earlier.

Company officials said in a telephone conference that sales increased in countries such as the United States and China as well as at home.

Hyundai Motor is South Korea’s largest carmaker and is a major force in the global car industry.