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Business - Hyundai Motor first-quarter profit misses estimates, hurt by slow U.S. sales

By Hyunjoo Jin SEOUL (Reuters) - South Korea`s Hyundai Motor missed analyst estimates by posting first-quarter net profit that was almost identical to a year earlier, as lackluster U.S. performance offset increased sales in China and Korea. Shares of Hyundai fell over 2 percent after the automaker reported January-March net profit of 1.93 trillion won ($1.86 billion), compared with the 2.19 trillion won mean estimate of 13 analysts polled by Thomson Reuters I/B/E/S. Revenue rose 1 percent to 21.65 trillion won. As well as competing with rivals touting newer models, Hyundai also had to contend with a stronger won potentially making Hyundai`s exports from Korea more expensive for overseas buyers.

Thursday, April 24, 2014  08:05


Business - Hyundai Motor unveils small SUV concept for China, to launch this year

By Hyunjoo Jin SEOUL (Reuters) - South Korea`s Hyundai Motor on Sunday unveiled its small sport utility vehicle (SUV) concept targeted at the Chinese market, planning to join a flurry of rivals in tapping the growing segment in the world`s biggest market. Hyundai said it had picked popular Korean actor Kim Soo-hyun to promote the subcompact SUV ix25, to capitalize on the Korean pop culture boom in wooing Chinese customers aged between 25 and 35. Small SUVs are a bright spot in key markets from China and India to the United States and Europe, offering the functionality and space of SUVs in an affordable small vehicle. In China, General Motors and Ford Motor are offering small SUVs Trax and EcoSport, respectively, among other carmakers.

Sunday, April 20, 2014  07:36

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