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.
Visitors look at a Genesis' new model EQ900 at its dealership in Seoul, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji
SEOUL: 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.
Hyundai Motor, the world's fifth-biggest automaker together with affiliate Kia Motors , posted on Tuesday a net profit of 1.69 trillion won (US$1.47 billion) for the first quarter, compared with the 1.46 trillion won average estimate of 14 analysts polled by Thomson Reuters I/B/E/S.
This marks its ninth consecutive quarterly profit drop.
(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)
Hyundai Motor, the world's fifth-biggest automaker together with affiliate Kia Motors , posted on Tuesday a net profit of 1.69 trillion won (US$1.47 billion) for the first quarter, compared with the 1.46 trillion won average estimate of 14 analysts polled by Thomson Reuters I/B/E/S.
This marks its ninth consecutive quarterly profit drop.
(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)
- Reuters
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