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.
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Pope Francis, Huge Crowd Joyously Celebrate Easter
- Automakers Turn to China to Fuel Sales Growth
- GM Boosting China Production Capacity
- GOP Making Bold Play for Oregon Senate Seat
- Report: Iran VP Says Row Over Reactor Resolved
- Delay in Ferry Evacuation Puzzles Maritime Experts
- NASA's Space Station Robonaut Finally Getting Legs
- Confusion, Anger as Sunken Ferry's Relatives Wait
- Iran Denounces U.S. Ruling to Sell Property