Hyundai Motor’s Q2 operating profit tumbles

Seoul, July 23 (IANS) Hyundai Motor’s second-quarter operating profit tumbled 16.1 percent compared with the previous three-month period, the company said on Thursday.

Operating profit reduced to 1.75 trillion won ($1.5 billion) in the second quarter on a quarterly basis. It was roughly in line with market expectations, marking the profit reduction for five straight quarters, reported Xinhua.

Revenue rose 0.3 percent from a year earlier to 22.82 trillion won in the second quarter, but net profit plunged 24 percent to 1.79 trillion won.

Global auto sales fell 2.8 percent to 1,232,943 in the cited period as competition got fiercer amid the weakness of the Japanese yen and other emerging currencies.

For the first six months of this year, Hyundai posted an operating profit of 3.34 trillion won on 43.76 trillion won of revenue. Those were falls of 1.4 percent and 17.1 percent each on a yearly basis.

Hyundai sold 2,415,777 vehicles in the first half, down 3.2 percent from a year earlier.

Domestic car sales declined 3 percent to 335,364 units, with overseas auto sales falling 3.2 percent to 2,080,413 units.


Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here