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Hyundai’s Profits, Sales Decline Again
Hyundai Motor Co. says sales declines of 14% in China and 3% in the U.S. its two largest markets cut net income in April-June 24% to 1.8 trillion won ($1.6 billion). It was the sixth consecutive quarter of year-on-year shrinkage.
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Hyundai Motor Co. says sales declines of 14% in China and 3% in the U.S. its two largest markets cut net income in April-June 24% to 1.8 trillion won ($1.6 billion). It was the sixth consecutive quarter of year-on-year shrinkage.
Quarterly operating profit declined 16% to 1.8 trillion won. Revenue was virtually flat at 22.8 trillion won ($19.5 billion).
Hyundai has targeted sales of 5.05 million in 2015. But deliveries through the first half of the year dropped 3% to 2.42 million units.
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