© Reuters. FILE PHOTO: A store signal of Hyundai is seen exterior a automobile showroom in Milton Keynes, Britain


SEOUL (Reuters) – South Korea’s Hyundai Motor Co reported on Tuesday a 57% bounce in fourth-quarter revenue, barely under analyst estimates, backed by demand for high-margin sports-utility automobiles and its premium Genesis automobiles.

Hyundai, which along with affiliate Kia Corp is among the many world’s high 10 automakers, reported a internet revenue of 1.three trillion received ($1.18 billion) for October-December, versus 804 billion received a 12 months earlier.

That in contrast with the 1.5 trillion received common of 16 analyst estimates compiled by Refinitiv.

Income rose 5% to 29.2 trillion received, Hyundai stated in a regulatory submitting.

The South Korean automaker’s inventory has risen over a 3rd this month, helped by information it was discussing an electrical automobile and battery tie-up with Apple Inc (NASDAQ:).

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Author: Pronews