New York, January 26 (FinanceEnquiry.com) - Hyundai Motor Hyundai (HYMTF) Reports Record USD7.2 Billion Profit for 2011based on its strong sales of more than 4 million cars in the year for the first time. The 2011 earnings of 8.1 trillion won ($7.2 billion) were 35 percent better than the previous year’s earnings of 6 trillion won. The automaker said Thursday in a regulatory filing that its operating profit soared 36.4 percent to 8.07 trillion won. 

Hyundai said that there was an increase in sales in the United States and China as well as in South Korea. It is the largest automaker in South Korea and a dominant force in the global auto industry. It has spread its manufacturing in many countries including Russia, the United States, China, India and the Czech Republic. However, in spite of its unprecedented growth last year, it is apprehensive of uncertainties in the global markets mainly due to Europe’s economic woes and financial worries faced by other nations.

Hyundai is also getting more and more vulnerable to competition from Japanese auto makers who are set to come out with new models in the small and medium-size cars. The South Korean automaker said that it is ready to face the challenges by focusing on quality and consolidating its internal management instead of expanding unnecessarily this year.