Hyundai Posts Lowest Profit in Five Years on China Slowdown
- Carmaker forecasts slowest annual sales growth in 10 years
- Hyundai's China sales fell for the first time since 2007
Customers look at the frame and chassis of a Hyundai Genesis G90 luxury sedan.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Hyundai Motor Co. posted its lowest annual profit in five years after a slump in China deliveries overshadowed gains in the U.S., Europe and South Korea.
Net income declined 13 percent to 6.42 trillion won ($5.3 billion) in 2015, the Seoul-based automaker said Tuesday. That compares with the 6.35 trillion won average of 27 analysts’ estimates compiled by Bloomberg. Sales rose 3 percent to 92 trillion won.