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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)

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.

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.

(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.

This story has been published from a wire agency feed without modifications to the text.

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