SEOUL : South Korea's Hyundai Motor Co on Tuesday reported a 109 per cent increase in first-quarter profit thanks to a rise in vehicle output as a global chip shortage eased and demand for its high-margin sport-utility vehicles remained strong.
Hyundai reported a net profit of 3.3 trillion won for the January-March period versus a profit of 1.6 trillion won a year earlier. That compared with a Refinitiv SmartEstimate for first-quarter profit of 2.3 trillion won from 16 analysts.
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