Hyundai profit down 20 pct as China woe continues

Hyundai Motor Co., South Korea’s largest automaker, reported a 20 percent plunge in its net profit Thursday, continuing its losing streak to nearly a fourth year, as its sales remain weak in China due to anger over a missile-defense system.

Hyundai’s overall vehicle sales except China actually increased during the third quarter about 7 percent thanks to the popularity of its new products, Kona and G70 .

During the first nine months of this year, Hyundai’s car sales declined 6 percent to 3.3 million units.

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Article source: http://www.dailystar.com.lb//Business/International/2017/Oct-26/423990-hyundai-profit-down-20-pct-as-china-woe-continues.ashx