Hyundai Motor warns of trade protectionism as profit falls
Seoul
HYUNDAI Motor Co warned of increasing uncertainties with the spread of trade protectionism and intensifying competition, after reporting a 33 per cent decline in operating profit due to domestic labour strife and shrinking demand in Brazil and Russia.
Operating profit at South Korea's largest carmaker fell to 1.02 trillion won (S$1.2 million) in the three months ended Dec 31, missing the 1.45 trillion won average analyst estimate compiled by Bloomberg.
Net income declined for a 12th consecutive quarte…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Nissan, Mazda roll out new models for China as they aim for comeback
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Swedish manufacturer is latest to offer electric pleasure craft in Singapore
Mercedes says it will continue to invest in China tie-ups
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June