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Hyundai Motors net profit dropped 2% to $1.4 billion

Staff writer |
Hyundai Motors has seen its profits fall for the eighth consecutive quarter. Net profit in the months from October to December dropped by 2% to 1.6 trillion won ($1.4bn).

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Earnings were weighed down both by stagnating demand in emerging markets and by discounts to revive sales in the US. The overall net profit for 2015 was 6.4 trillion won, making it it Hyundai's lowest annual profit in five years.

Sales fell by 7% in China, with the slowdown in the world's second largest economy taking its toll. Other emerging markets also saw retail sales declining, while the US, EU, Korea and India saw a slight increase in the number of vehicles sold. Hyundai Motors sold 8.01 million vehicles.

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