Hyundai Q3 profit plummets on slowing sales, currency swings

Hyundai Motor reported a 67 percent plunge in third-quarter net profit from the previous year after overseas sales slowed and currency swings hurt its bottom line in emerging markets. Net profit for July to September was 306 billion won ($268.8 million), while operating profit plummeted 76 percent year-on-year to 288.9 billion won, the firm said in a statement. "The third quarter was a difficult time due to slowing demand in major markets including the US and concerns over a global trade dispute," said Hyundai, which together with its subsidiary Kia is the world's fifth-largest automaker.

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