Hyundai Has First Loss In 8 Years

Credit: Wochit Business
Published on January 24, 2019 - Duration: 00:47s

Hyundai Has First Loss In 8 Years

SEOUL -- South Korea's Hyundai Motor Co.

Surprised the market on Thursday by posting its first quarterly net loss in at least eight years as its vehicle sales slumped in the key China market.

Hyundai reported a net loss of 129.8 billion won ($114.95 million) for the fourth quarter ended in December compared with the average 784 billion profit estimate of analysts based on I/B/E/S Refinitiv data.

It was the automaker's first net loss since it changed the accounting method in 2011.

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Hyundai Has First Loss In 8 Years

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Credit: Reuters Studio - Published on January 24, 2019 

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