Hyundai Motor logs 8.8 percent profit fall in Q3
Hyundai Motor logs 8.8 percent profit fall in Q3
  • By Lee Kyung-ho (info@koreaittimes.com)
  • 승인 2015.10.23 11:26
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Hyundai Motor recorded the weakest income in five years mainly driven by the increase in marketing costs and currency volatility, based on recent reports.

Operating profit stood at USD1.33 billion in the July-September timeframe, an 8.8 percent drop from 2014, thus marking the lowest since USD1.09 billion posted in 2010's fourth quarter.

Additionally, regardless to the reasonably positive car sales, a jump in marketing costs and volatility in the foreign exchange market lead in the worse-than-expected earnings.

"The South Korean currency weakened to the U.S. dollar in the quarter, but it was offset by steeper declines in the euro and emerging currencies such as those of Russia and Brazil," said a Hyundai official.


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