Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
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.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.