Hyundai Motor third-quarter net profit slides 23 percent, missing estimates

October 22, 2015 4:26 AM

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Hyundai Motor third-quarter net profit slides 23 percent, missing estimates

SEOUL South Korea's Hyundai Motor Co (005380.KS) said on Thursday its net profit fell 23 percent in the third quarter from a year earlier, hit by a sharp slowdown in China sales and aggressive global incentives which outweighed gains in the won against the dollar.

Hyundai Motor, which together with affiliate Kia Motors (000270.KS) ranks fifth in global auto sales, said net profit was 1.2 trillion won ($1.1 billion) in July to September, down from 1.5 trillion won a year earlier.

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