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Hyundai Motor's Q3 net profit rises 151%, beats forecasts
South Korean automaker Hyundai Motor Co reported a 151% increase in third-quarter profit, driven by strong sales of SUVs and a favorable exchange rate. The company's net profit for the July-September period reached 3.2 trillion won ($2.36 billion), surpassing analysts' estimates. But the momentum is slowing as high interest rates and an uncertain economic outlook have raised vehicle financing costs and sapped consumer demand. Shares of Hyundai Motor were trading down 0.2% as of 0451 GMT.
South Korean automaker Hyundai Motor Co reported a 151% increase in third-quarter profit, driven by strong sales of SUVs and a favorable exchange rate. The company's net profit for the July-September period reached 3.2 trillion won ($2.36 billion), surpassing analysts' estimates. But the momentum is slowing as high interest rates and an uncertain economic outlook have raised vehicle financing costs and sapped consumer demand. Shares of Hyundai Motor were trading down 0.2% as of 0451 GMT. 
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