Hyundai Motor swings back to black with Q1 profit | 2019-04-25 | daily-sun.com

Hyundai Motor swings back to black with Q1 profit

25 April, 2019 12:00 AM printer

SEOUL: South Korea's largest automaker Hyundai Motor bounced back in the first three months from its first quarterly loss in eight years on strong domestic demand for its new sport utility vehicles, the company said Wednesday.

Net profit during the January to March period rose 30 per cent from a year earlier to 954 billion won (US$830 million), Hyundai said in a statement, reports Xinhua.

The increase came after the firm reported its first quarterly loss in eight years for October-December 2018.

"Strong sales of newly released vehicles including the G90 and the Palisade led to an improvement in profitability," Hyundai said.


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