South Korean car manufacturer Hyundai Motor Co
posted higher-than-expected profits on Thursday, exceeding analysts'
expectations, despite the global economic downturn.
Hyundai sold nearly 3.2 million vehicles in the first three
quarters.
South Korea's largest carmaker posted third-quarter net income
that was up 13 per cent to 2.17 trillion won (2 billion dollars),
from 1.92 trillion won a year earlier.
The company said it expected full-year sales to be higher than
forecast at about 4.38 million units.
The company was in a particularly strong position in China, a
spokeswoman said in Seoul. Chief financial officer Lee Won Hee said
the forecast for sales in the neighbouring country for the year was
projected to be in the range of 820,000-830,000 vehicles.
Last year, Hyundai sold just under 4.06 million vehicles -
crossing the 4-million threshold for the first time.
