The profits of Hyundai Motor of South Korea fell by 75% in the second quarter of the year.
This is the largest decrease in seven quarters, according to Reuters. Weak global demand due to the Corona pandemic has affected sales of high-priced models locally.
Other markets, including the United States, China, Europe, and India, saw sales decline by more than 10 percent.
Net profits for the April-June period fell to 227 billion won ($ 189.53 million) from 919 billion won a year earlier.
This was also lower than the average estimate of 16 analysts Refinative collected their opinions, which amounted to 275 billion won.
(Fun Knowledge of Knowledge)
