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Hyundai Motor reports earnings drop, forecasts weak sales

Jan 23, 2015    

Seoul: Hyundai Motor Co suffered a drop in quarterly earnings and is forecasting weak sales growth this year after falling behind competitors in factory expansions. South Korea's largest automaker said yesterday its October-December net income dropped 22 per cent from a year earlier to 1.66 trillion won ($1.53 billion). The median expectation of analysts surveyed by financial data provider FactSet was a 2 trillion won profit. Sales rose 8 percent to 23.6 trillion won. Hyundai blamed unfavorable foreign exchange rates for the lower earnings. Even though the South Korean won fell against the US ...

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