Hyundai Motor Q1 Operating Profit Falls 31% as Middle East Demand Softens and Palisade Recall Bites
Hyundai Motor reported a 31% year-on-year decline in first-quarter operating profit to 2.5 trillion won, matching analysts' estimates, as softer demand in the Middle East and a recall of the Palisade SUV weighed on results. Revenue increased 3.4% to 45.9 trillion won. Shares traded lower following the announcement.