In the United States, Hyundai Motor's sales over January-June fell 7.4 percent, the second biggest drop after affiliate Kia Motors. BLEAK SALES IN TOP MARKETSHyundai Motor's retail sales in China, the world's biggest auto market, slumped 29 percent in the first half of 2017. Hyundai Motor facebook/" target="_blank">shares trimmed earlier gains after the earnings announcement, ending up 1.4 percent versus the wider market that was down 0.2 percent. Its operating profit came in at 1.34 trillion won and sales at 24.31 trillion won for the period. Its weak brand image has also put Hyundai at a disadvantage versus local and global rivals such as Honda Motor, Toyota Motor and General Motors, which all saw higher China sales for last month.
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Its operating profit came in at 1.34 trillion won and sales at 24.31 trillion won. For the second quarter ended June, Hyundai Motor reported a net profit of 817 billion won ($729.14 million), down 51 percent from a year ago — the 14th such decline in a row. Its weak brand image has also put Hyundai at a disadvantage versus local and global rivals such as Honda Motor, Toyota Motor and General Motors, all of which reported higher China sales for last month. GM, in its earnings call on Tuesday, said it set second-quarter sales record in China, although it also referred to pricing challenges. Analysts on average had expected 1.35 trillion won.
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Nintendo records quarterly profit on Switch sales success
Quarterly sales more than doubled to 154.1 billion yen ($1.4 billion) from 62 billion yen the previous year. Nintendo sold 1.97 million Switch machines during the quarter, for cumulative sales of 4.7 million units since March. It left unchanged its estimate of selling 10 million Switch machines in the fiscal year through March 2018. Nintendo, which makes Super Mario and Pokemon games, left unchanged its full year forecast through March 2018, for a 45 billion yen ($402 million) net profit on 750 billion yen ($6.7 billion) sales. Interest in Nintendo games on smart devices soared with the wildly popular augmented reality game, "Pokemon Go."Its operating profit came in at 1.34 trillion won and sales at 24.31 trillion won. For the second quarter ended June, Hyundai Motor reported a net profit of 817 billion won ($729.14 million), down 51 percent from a year ago — the 14th such decline in a row. Its weak brand image has also put Hyundai at a disadvantage versus local and global rivals such as Honda Motor, Toyota Motor and General Motors, all of which reported higher China sales for last month. GM, in its earnings call on Tuesday, said it set second-quarter sales record in China, although it also referred to pricing challenges. Analysts on average had expected 1.35 trillion won.
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