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Jul. (Reporting by Joyce Lee and Hyunjoo Jin; Editing by Christopher Cushing and Himani Sarkar)Investors see this as "Hyundai being one of the few that can pursue R&D while competitors' business environment is very unstable", Shinhan Investment Corp analyst Jung Yong-jin said.South Korea's Hyundai, which together with sister company Kia Motors is the world's fifth-largest automaker, said weakness in both mature and developing economies means auto sales may only recover to 2019 levels around 2023.Hyundai said it will not pay interim dividends this year due to the uncertainty and need to secure capital as it unveiled its results for the second quarter on Thursday.SEOUL — Hyundai Motor Co reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while demand should pick up soon, the pace of recovery will be slow due to the impact of the coronavirus pandemic.Hyundai's net profit for April-June fell to 227 billion won, from 919 billion won a year earlier, likely due to foreign currency debt and lacklustre China business, analysts said.South Korea has surpassed China and the United States as the top market for Hyundai, after the country managed the COVID-19 outbreak better than others and extended auto tax cuts.Except for Tesla, Hyundai and Kia, other automakers are expected to report losses this quarter, the analyst added. HYUNDAI MOTOR COMPANY (HMC) Corporate Disclosure to Korea Exchange Disclosure title : Q2 2020 Business Results (Tentative) * Below figures are tentative results and may differ from final confirmed numbers. ($1 = 1,197.6800 won) (Reporting by Joyce Lee and Hyunjoo Jin; Editing by Christopher Cushing)SEOUL, July 23 (Reuters) - South Korea’s Hyundai Motor Co said on Thursday second-quarter profit slumped 75% from a year earlier, missing analyst estimates, as weak global demand due to the COVID-19 pandemic overshadowed solid sales of higher-end models at home. 23, 2020 9:19 AM ET | About: Hyundai Motor Company (HYMLF) | By: Niloofer Shaikh, SA News Editor . South Korea's Hyundai Motor Co said on Thursday second-quarter profit slumped 75% from a year earlier, missing analyst estimates, as weak global demand due to … The results were buoyed by sales in South Korea, which rose 13% from a year earlier to 200,000 vehicles, led by demand for large cars and sport-utility vehicles (SUVs) such as the G80 sedan and GV80 SUV from premium brand Genesis."Auto demand is expected to pick up from the third quarter, but economic recession impact from COVID-19 and uncertainties around re-proliferation remain," CFO Kim Sang-hyun said.Hyundai's global retail sales fell 33% for the period, which included double-digit percentage sales drops in markets such as the United States, China, Europe and India.For April-June, Hyundai turned in an operating profit of 590 billion won ($493 million), versus an average analyst estimate of 377 billion won compiled by Refinitiv, driving its shares up 5.1% in a slightly weaker wider market. 1. Hyundai Motor reports Q2 results. SEOUL (Reuters) – Hyundai Motor Co <005380.KS> reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while … K-IFRS Consolidated Business Results
HYUNDAI MOTOR COMPANY (HMC) Corporate Disclosure to Korea Exchange Disclosure title : Q2 2020 Business Results (Tentative) * Below figures are tentative results and may differ from final confirmed numbers.
1.
Hyundai Motor Co reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while demand should pick up soon, the pace of recovery will be slow due to the impact of the coronavirus pandemic. K-IFRS Consolidated Business Results Hyundai said it will not pay interim dividends this year due to the uncertainty and need to secure capital as it unveiled its results for the second quarter on Thursday.
… The company reported a 36.3 percent year-over-year decline in global wholesale volume due to weak global demand caused by COVID-19 as well as related lockdowns and temporary disruptions at production facilities.? Net profit for April-June fell to 227 billion won ($189.53 million) from 919 billion won in the same period a year earlier.
South Korea's Hyundai Motor Co said on Thursday second-quarter profit fell 75% on year, the steepest in seven quarters and missing analyst estimates, as weak global demand due to …