Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.