Mexican Media Brands
Hyundai’s Quarterly Profits Drop 19%
Hyundai Motor Co. reports its net profit last October-December fell to 1.7 trillion won ($1.5 billion) from 2 trillion won in the same period of 2013.
#economics
Share
Hyundai Motor Co. reports its net profit last October-December fell to 1.7 trillion won ($1.5 billion) from 2 trillion won in the same period of 2013. Operating profit declined 8% to 1.9 trillion won.
Fourth-quarter revenue climbed 8% to 23.6 trillion won ($22 billion). But earnings suffered from the collapse of the Russian ruble and the cost of heftier sales incentives needed in the U.S. to combat stronger competition from Japanese brands.
Hyundai's full-year net income slumped 11%, and unit sales were just short of 5 million vehicles. The company predicts this year's volume will advance less than 2% its smallest gain in nine years to 5.05 million vehicles.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .