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

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.

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

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.

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.

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