Hyundai Q3 operating loss $277 mChristian Fernsby ▼ | October 26, 2020
Hyundai reported a third quarter operating loss of 313.8 billion Korean won ($277 m), compared to profit of 378.5 billion won, a year ago.
Hyundai Net loss was 188.8 billion won
The company noted that its third quarter results reflect engine related provision expenses as the company took preemptive measures to ensure customer safety and cover any possible future increase in quality related expenses.
Third quarter revenue increased 2.3 percent year over year to 27.58 trillion Korean won from 26.97 trillion won.
The company sold 997,842 vehicles in the July-September period, a 9.6 percent decrease from prior year. ■