Hyundai Motor’s U-turn may stutter in South Korea

Hyundai Motor Co. reported net profit in the three months ending March 31 rose 24 percent to 829 billion won . The results announced on April 24 beat an average estimate of 758 billion won net profit from 15 analysts polled by Refinitiv.South Korea’s gross domestic product in the first quarter declined a seasonally adjusted 0.

3 percent from the previous quarter, the worst contraction since a 3.3 percent drop in the fourth quarter of 2008, the Bank of Korea said on April 25. From a year earlier, Asia's fourth-largest economy grew 1.8 percent in the January to March quarter, compared with 2.5 percent growth predicted by a Reuters poll and 3.1 percent in the final quarter of 2018.

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