Hyundai Motor Warns of Trade Protectionism as Profit Falls
- Deliveries in South Korea fell, while sales climbed in China
- Incentive spending in U.S. climbed 31% in December: Autodata
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Hyundai Motor Co. warned of increasing uncertainties with the spread of trade protectionism and intensifying competition, after reporting a 33 percent decline in operating profit due to domestic labor strife and shrinking demand in Brazil and Russia.
Operating profit at South Korea’s largest automaker fell to 1.02 trillion won ($875 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 quarter, according to the Seoul-based company.