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Hyundai’s Quarterly Profits Jump 24%
Hyundai Motor Co.’s net profit in January-March climbed 24% to 829 billion won ($722 million), thanks to an upturn in sales in South Korea and the U.S. that offset weak demand in China.
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Hyundai Motor Co.’s net profit in January-March climbed 24% to 829 billion won ($722 million), thanks to an upturn in sales in South Korea and the U.S. that offset weak demand in China, Reuters reports.
Revenue grew 7% to 24 trillion won ($20.9 billion). Quarterly operating profit rose 21% to 825 billion won ($719 million).
Hyundai says its unit sales fell 19% in China in the quarter. But deliveries advanced 2% in the U.S., the company’s second-largest market, and expanded 9% to a 17-year high in Korea.
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