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Hyundai Motor Q1 profit falls as sales incentives rise, currencies drag

Apr 23, 2015    

Seoul: Hyundai Motor on Thursday posted its fifth consecutive drop in quarterly profit after South Korea's biggest automaker boosted sales incentives in the United States and weaker overseas currencies put a drag on offshore revenue.Hyundai Motor, which together with affiliate Kia Motors ranks fifth in global sales, said net profit eased 1 percent to 1.91 trillion won ($1.77 billion) in January-March from 1.93 trillion won a year earlier.Though the result was ahead of the 1.7 trillion won average estimate of 15 analysts polled by Thomson Reuters I/B/E/S, another drop in profit will add to pres...

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