The Korea Times
Local automotive industry leaders Hyundai Motor and Kia are expected to report lackluster first-quarter earnings compared with last year due to the effects of U.S. tariffs and a weaker Korean won, a market analysis showed Wednesday. According to the analysis of earnings forecasts from securities firms compiled by Yonhap Infomax over the past three months, Hyundai Motor is estimated to report sales of 45.89 trillion won ($30.4 billion) on average for the January-March period and an operating profit of 2.78 trillion won in its earnings report expected to be released Thursday. The projected sales figure represents a 3.3 percent increase, while operating profit marks a 23.3 percent decline. Its sister Kia is estimated to report 29.62 trillion won in sales and 2.32 trillion won in operating profit, which would mark a 5.7 percent on-year growth and a 22.6 percent decline, respectively, on Friday. The projected earnings declines come despite relatively solid sales performance by Hyundai Motor and Kia compared with global peers, as U.S. tariffs, which took effect in April of last year, and incre
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