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Hyundai’s Profits Fall Short of Forecast
Hyundai Motor Co.’s net profit rebounded 51% to 460 billion won ($391 million) in July-September but fell roughly 40% below analysts’ estimates.
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Hyundai Motor Co.’s net profit rebounded 51% to 460 billion won ($391 million) in July-September but fell roughly 40% below analysts’ estimates.
Operating profit for the period grew 15% to 379 billion won ($323 million). But results were eroded by a one-time charge of 600 billion won ($510 million) related to impending engine and airbag repairs for customers in Korea.
Hyundai’s quarterly unit sales shrank as gains in the U.S. were offset by lower volumes in China, India and Korea.
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