Earnings Slip 1% at Hyundai, Rise 8% at Kia

Hyundai Motor Co. netted 2.5 trillion won ($2.2 billion) in the second quarter of 2013 compared with 2.6 trillion won ($2.3 billion) the same period in 2012.

A wage dispute that caused its South Korean workers to boycott weekend shifts for 13 weeks cost 1.7 trillion won ($1.5 billion) in lost production, according to Hyundai.

Revenue grew 6% to 23.2 trillion won ($20.6 billion). Global vehicle sales rose 8% to 1.20 million units in the quarter, as volume more than tripled in Brazil and jumped 32% in China. Deliveries increased 2% in the U.S. but slid 7% in Europe.

Operating earnings fell 5% to 2.4 trillion won ($2.1 billion) in the April-June period. Operating margin narrowed to 10.4% of sales from 11.6%.

Separately, affiliate Kia Motor Corp. boosted net profit 8% to 1.2 trillion won ($1 billion) in the second quarter of this year. Revenue increased 5% to 13.1 trillion won ($11.6 billion). Sales rose 2% to 731,000 vehicles, thanks largely to a 22% jump in the company's deliveries in China.