SEOUL, Oct 23 (Reuters) - Hyundai Motor Co posted a 29 percent year-on-year fall in its quarterly net profit, missing analysts' estimates, hit by a strong local currency and slowing sales growth in its key U.S. and South Korean markets.
Hyundai Motor, which along with its affiliate Kia Motors is the world's fifth-biggest automaker, on Thursday reported a 1.52 trillion Korean won ($1.44 billion) net profit for the July to September quarter, slightly lower than a consensus forecast of 1.79 trillion won, according to a Reuters' poll of 12 analysts.
Its third-quarter sales rose 2 percent to 21.28 trillion won year-on-year.
Hyundai's stock has lost 32 percent so far this year, making the company the worst performer among major global automakers. Many investors sold off their holdings after a Hyundai-led consortium last month bid $10 billion for a plot of land in Seoul, more than triple the appraised price. ($1 = 1,055.2900 Korean won) (Reporting by Hyunjoo Jin; Additional reporting by Sohee Kim; Editing by Miral Fahmy)