Hyundai Motors posts slump in Q1 profit and sales

Seoul, Apr 23: Hyundai Motors have posted decline in the first quarter profit and sales due to the global auto slump.

Hyundai Motors Co. on Thursday, Apr 23 announced that its net profit has declined up to 42.7 per cent since the last year. The South Korean company has earned 225 billion this quarter which is much lower than the previous year's result of 392.7 billion.

The sales have fallen 26.4 per cent. This accounts for 6.03 trillion won from 8.20 trillion won the year before.

The company said that the worldwide vehicle sales have fallen up to 13.3 per cent in the quarter due to the decrease in global demand.

OneIndia News