Seoul-Hyundai Motor Co.'s first-quar-ter earnings more than doubled to a record as tax cuts boosted local car sales. Net profit surged to 586.6 billion won ($458.1 million) from 276 billion won in the year-earlier period, the largest South Korean auto maker said. Sales rose 20% to 6.085 trillion won, also a quarterly record. The South Korean auto industry posted banner performances last year despite the global economic slowdown, as local consumption remained robust. The demand has continued into this year, helped by a 43% tax cut on cars that was introduced in December. Hyundai Motor sold 402,766 vehicles in the first quarter, up 8.4% from a year earlier. "The bottom line is much better than our expectations and that of the market," said Suh Sang Moon, an auto analyst at ING Barings. "Customers have to wait two to three months for deliveries of Hyundai cars."
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机译：由于减税提振了本地汽车销量，首尔现代汽车公司第一季度的收入增长了一倍以上，达到了创纪录的水平。这家韩国最大的汽车制造商表示，净利润从上年同期的2760亿韩元激增至5866亿韩元（4.581亿美元）。销售额增长了20％，达到60850亿韩元，也是一个季度记录。尽管全球经济增长放缓，但由于当地消费保持强劲，去年韩国汽车业仍然表现出色。由于12月份开始对汽车减税43％，需求一直持续到今年。现代汽车第一季度共售出402,766辆汽车，同比增长8.4％。 ING Barings的汽车分析师Suh Sang Moon说：“底线比我们的预期和市场预期要好得多。” “客户必须等待两到三个月才能交付现代汽车。”
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