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Hyundai’s Quarterly Earnings Plunge 68%
Hyundai Motor Co. reports its net profit in July-September plummeted 68% to 269 billion won ($236 million) year on year.
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Hyundai Motor Co. reports its net profit in July-September plummeted 68% to 269 billion won ($236 million) year on year.
Operating profit slid 76% to 289 billion won ($254 million). Results were dragged down by the cost of airbag and engine-related recalls in the U.S., coupled with the company’s continuing struggle to match global demand for SUV/crossovers with a car-heavy product lineup.
The company reports its revenue for the quarter advanced 1% to 24.4 trillion won ($21 billion). Global vehicles sales totaled 1.12 million units.
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