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Business - Hyundai Motor profit down for ninth straight quarter as China sales sag


Hyundai Motor posted its ninth straight quarterly profit drop on slower sales in China and other emerging markets, a trend the South Korean automaker seeks to reverse by supplying more sport utility vehicles (SUVs) and launching new sedans. Strength in smaller, fuel-efficient sedans helped Hyundai Motor outperform the industry during the global economic downturn, but has left it reeling from a consumer shift to gas-guzzling sport utility vehicles (SUVs) in recent years, driven by a slump in the price of oil. In China, its biggest market, Hyundai Motor sold 10 percent fewer vehicles in the quarter, as it trailed rivals in tapping soaring demand for SUVs.


Tuesday, April 26, 2016  09:55

Yahoo

Business - Hyundai Motor Q1 profit dips 12 percent on weakness in SUV segment


South Korea`s Hyundai Motor posted its ninth straight quarterly profit drop as it trailed rivals in tapping soaring demand for sport utility vehicles in China, its biggest market. Hyundai`s strength in smaller, fuel-efficient sedans helped the automaker outperform the industry during the global economic downturn, but has left it reeling from a consumer shift to gas-guzzling sport utility vehicles (SUVs) in recent years, driven by a slump in the price of oil. Hyundai Motor, the world`s fifth-biggest automaker together with affiliate Kia Motors , reported on Tuesday a net profit of 1.69 trillion won ($1.47 billion) for the first quarter, down 12 percent from the year-ago quarter and compared with the 1.46 trillion won average estimate of 14 analysts polled by Thomson Reuters I/B/E/S. Operating profit declined 16 percent to 1.34 trillion won, while revenue rose 7 percent to 22.35 trillion won.


Tuesday, April 26, 2016  06:53

Yahoo

World - Hyundai Motor`s profit down 12 percent on China sales


SEOUL, South Korea (AP) — Hyundai Motor Co. has reported a 12 percent drop in its first-quarter net profit as lower sales in China, Russia and Brazil outweighed higher vehicle shipments at home and favorable foreign exchange rates.


Tuesday, April 26, 2016  09:00

Yahoo

World - Hyundai Motor reports 12 percent fall in 1Q earnings


SEOUL, South Korea (AP) — Hyundai Motor Co. says its first-quarter net profit has dropped 12 percent over a year earlier as global sales declined.


Tuesday, April 26, 2016  06:52

Yahoo

Business - Hyundai Motor first quarter net profit down 12 percent, beats estimates


SEOUL (Reuters) - Hyundai Motor reported a 12 percent fall in net profit for the January to March period, as the South Korean automaker suffered slumping sales in China.


Tuesday, April 26, 2016  06:35


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