SEOUL: South Korea's Hyundai Motor posted a 21 percent fall in quarterly net profit, dragged down by sales declines in China stemming from political tensions.
The world's fifth-biggest automaker together with affiliate Kia Motors reported on Wednesday a first-quarter net profit of 1.33 trillion won ($1.18 billion). Analysts polled by Thomson Reuters I/B/E/S had on average expected a 1.25 trillion won net profit.
Hyundai posted an operating profit of 1.25 trillion won and sales of 23.37 trillion in the January to March quarter.