SEOUL, South Korea – Hyundai Motor Co. says its second-quarter profit fell 7 percent as the appreciation of South Korean diluted its overseas earnings.
The South Korean automaker said Thursday it earned 2.3 trillion won ($2.2 billion) for the April-June period, compared with 2.5 trillion won a year earlier. The figure was in line with expectations.
Operating income dropped 13 percent to 2.1 trillion won while sales declined 2 percent to 22.8 trillion won.
It sold 2.5 million vehicles during the first six months of this year, up 4 percent from the previous year.
Despite selling more cars, Hyundai said its bottom line was hit by the sharp rise of the South Korean won.