HYUNDAI MOTOR REG S - HYMTF STOCK NEWS

Hyundai and Kia have received a significant credit ratings boost from S&P Global, upgrading them to 'A-' with a stable outlook. This follows similar upgrades from Moody's and Fitch earlier in 2024, placing the Korean automakers in the same category as global giants like Mercedes-Benz, Toyota, and Honda.

The upgrade is attributed to strong profitability, driven by a smart product mix and a balanced focus on electric and hybrid vehicles. S&P Global highlighted the companies' increasing market share, particularly in the U.S., where their SUVs are performing well. The agency expects Hyundai and Kia to maintain strong profit and cash generation, even in a challenging global automotive market.

This achievement underscores Hyundai and Kia's growing influence in the global mobility sector and their successful strategy in navigating the industry-wide transition to electrification.

Hyundai Motor and Kia have achieved a significant milestone in 2024, receiving upgraded ratings from all three major global credit rating agencies: S&P Global, Moody's Investors Service, and Fitch Ratings. Both companies' ratings were raised to 'A-' by S&P and Fitch, and 'A3' by Moody's, putting them on par with industry leaders like Mercedes-Benz, Toyota, and Honda.

The upgrades were driven by robust financial performance, with strong predicted double-digit profit margins and cash flow. Other contributing factors include improved product competitiveness, strong market positioning in electrification, and flexible production capabilities. This achievement solidifies Hyundai Motor and Kia's positions as global mobility industry leaders, reflecting their continued growth and strategic advancements in the automotive sector.

Hyundai's IONIQ 5 N has won Car and Driver's 2024 EV of the Year award, marking Hyundai's third consecutive win in this category. The high-performance electric SUV, Hyundai's first electrified N model, offers 641 horsepower with N Grin Boost engaged. It features innovative technologies like N e-shift, which simulates an 8-speed dual-clutch transmission, and N Active Sound+, providing selectable powertrain soundtracks.

The IONIQ 5 N aims to deliver engaging performance without sacrificing daily usability, embodying N brand's electrification vision. It comes in a single, fully-equipped trim with advanced driver-assistance and safety features. This award follows the success of the IONIQ 6 (2023) and standard IONIQ 5 (2022), highlighting Hyundai's strong position in the EV market.

Hyundai has been named the top mass-market brand in the J.D. Power 2024 U.S. Tech Experience Index (TXI) Study for the fifth consecutive year. The study evaluates user experience with advanced vehicle technologies during the first 90 days of ownership. Additionally, the 2024 Santa Fe won the Mass Market Infotainment and Connectivity award for its phone-based Digital Key technology.

Hyundai's Digital Key feature allows drivers to start their 2024 Santa Fe using a smartphone app and Near-Field Communication (NFC) technology. This innovation reflects Hyundai's commitment to advancing vehicle technology and ensuring customer satisfaction. The company's focus on user-friendly features and cutting-edge tech has contributed to its consistent recognition in the J.D. Power study.

Hyundai Motor Company (HYMTF) has received a credit rating upgrade from S&P Global, moving from 'BBB+' to 'A-' with a 'Stable' outlook. This achievement marks Hyundai's attainment of an 'A' rating from all three major global credit agencies in 2024, following upgrades from Moody's and Fitch earlier in the year. The upgrade reflects Hyundai's strong market position, solid profitability, and robust cash flow.

S&P Global cited Hyundai's improved market share, enhanced product mix, and favorable exchange rates as key factors contributing to the company's marked profitability improvement since 2021. The agency also highlighted Hyundai's balanced portfolio of EV and hybrid models as a strength for adapting to market changes during the electrification transition.

Hyundai Motor America and Children's Hospital Los Angeles (CHLA) hosted a child passenger and pedestrian safety event at Hyundai's national headquarters in Fountain Valley, California. The event, part of CHLA's Injury Prevention Program, featured a child safety seat check and pedestrian safety training. Certified Child Passenger Safety Technicians educated parents on correct car seat installation and usage, while families experienced LA Street Smarts, a life-size neighborhood replica teaching pedestrian safety techniques. This initiative is part of Hyundai Hope, the company's corporate social responsibility program aimed at improving community well-being through health and safety support.

Hyundai (HYMTF) has secured six product wins in the 2024 Newsweek Autos Awards, showcasing the strength of its vehicle lineup. The 2024 Hyundai Elantra was recognized as the Best Vehicle for First-time New Car Buyers and Top Pick for Urbanites. The IONIQ 5 received three accolades, including Top Pick for Tomorrow Seekers, Suburbanites, and New Parents. Additionally, the IONIQ 6 was named a Top Pick for Tomorrow Seekers.

Olabisi Boyle, senior vice president of product planning and mobility strategy at Hyundai Motor North America, emphasized the company's commitment to delivering beautifully designed, high-quality, and safe vehicles that cater to diverse customer needs. Hyundai's significant U.S. operations, including manufacturing facilities and R&D centers, contribute $20.1 billion annually and 190,000 jobs to the U.S. economy.

Hyundai Motor America reported a 4% increase in total July sales, reaching 69,202 units compared to July 2023. The company achieved record sales for several hybrid models, with total hybrid sales up 67% in July. Notably, retail sales of electric, hybrid, and plug-in hybrid vehicles represented 25% of the retail sales mix. Hyundai set total sales records for Elantra HEV (+13%), Santa Fe HEV (+75%), Tucson HEV (+109%), and Palisade (+50%). The Tucson HEV had its best-ever month in both retail and total sales. Despite challenges from a CDK disruption early in the month, Hyundai's diverse product portfolio, particularly its HEV and EV lineup, drove the solid sales performance.

Hyundai Motor Company's President and Global COO José Muñoz has been named Executive of the Year by the New England Motor Press Association (NEMPA). The recognition comes alongside awards for Hyundai and Genesis vehicles, with the Hyundai Santa Fe winning Best Midsize SUV and the Genesis Electrified GV70 taking Best Premium Compact SUV.

NEMPA's annual awards are based on evaluations of over 100 vehicles during winter months, focusing on innovative design, customer appeal, and performance in wintery conditions. Muñoz attributed the success to Hyundai's workforce, highlighting their efforts in delivering high-quality, safe, and eco-friendly vehicles with desirable technology.