Hyundai Motor Q4 profit rises 57% on demand for SUVs, Genesis

Hyundai, which is among the world's top 10 automakers, reported a net profit of 1.3 trillion won ($1.18 billion) for October-December.
By : Reuters
| Updated on: 26 Jan 2021, 10:43 AM
File image: Hyundai Motor Co logo as seen on its steering wheel (REUTERS)
File image: Hyundai Motor Co logo as seen on its steering wheel (REUTERS)
File image: Hyundai Motor Co logo as seen on its steering wheel (REUTERS)
File image: Hyundai Motor Co logo as seen on its steering wheel

South Korea's Hyundai Motor Co reported on Tuesday a 57% rise in fourth-quarter profit, slightly below analyst estimates, backed by demand for high-margin sports-utility vehicles and its premium Genesis cars.

Hyundai, which together with affiliate Kia Corp is among the world's top 10 automakers, reported a net profit of 1.3 trillion won ($1.18 billion) for October-December, versus 804 billion won a year earlier.

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(Also read | Recalled Hyundai Kona catching fire puts glare back on EV in South Korea)

That compared with the 1.5 trillion won average of 16 analyst estimates compiled by Refinitiv.

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First Published Date: 26 Jan 2021, 10:43 AM IST
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