Hyundai Motor Q2 profit shrinks on rising costs

Newswire

SEOUL, July 29 (Reuters) - Hyundai Motor Co. , South Korea's top auto maker, on Thursday reported lower quarterly net profits, pinched by higher steel prices and hefty marketing costs. Hyundai, which dominates the home market with a 42 percent share, earned net profits of 510 billion won ($437 million) for the second quarter to June, compared with 570.9 billion a year ago. Sales rose to 7.2 trillion won from 6.6 trillion. The profit was slightly higher than a consensus forecast of 492.2 ...

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