SEOUL (Reuters) – South Korea’s Hyundai Motor Co reported on Tuesday a 57% rise in fourth-quarter profit, slightly below analyst estimates, backed by demand for high-margin sports-utility vehicles and its premium Genesis cars.
Hyundai, which together with affiliate Kia Corp is among the world’s top 10 automakers, reported a net profit of 1.3 trillion won ($1.18 billion) for October-December, versus 804 billion won a year earlier.
That compared with the 1.5 trillion won average of 16 analyst estimates compiled by Refinitiv.
(Reporting by Heekyong Yang and Joyce Lee; Editing by Himani Sarkar)
