Luxury cars, EVs to fuel Hyundai’s China, U.S. sales in 2021; Q4 profit jumps

SEOUL (Reuters) – Hyundai Motor Co said on Tuesday it expects sales in United States and China to surge this year, driven by the launch of new electric cars and sports utility vehicles (SUVs), after reporting its best quarterly profit in over three years. Hyundai’s holiday-quarter profit jumped 57% on more demand for premium-margin SUVs, but overall sales volumes fell 5% amid a broader economic weakness due to the COVID-19 pandemic. The promising outlook is a testament to Hyundai’s big electric vehicle (EV) push. The company, which together with affiliate Kia Corp is among the world’s top 10 automakers, is soon expected to...