Hyundai Motor Q3 profit plummets 47%

Agent009 submitted on 10/31/2006 Official AutoSpies Timestamp: 11:20 AM
from: www.koreaherald.co.kr

[40] user comments | category: Misc News

Tags: Hyundai

Hyundai

Hyundai Motor Co. said yesterday its third-quarter net profit tumbled 47.1 percent to 282.8 billion won as production dwindled during the recent strike while the Korean currency strengthened.

Hyundai's affiliate Kia Motors Corp. fell into the red for the first time since 1998 with a net loss of 43.9 billion won in the three months to September for similar reasons.

The Korean won climbed 7.2 percent in the third quarter, making Hyundai-Kia cars more expensive abroad while Japanese rivals such as Toyota Motors Corp. benefited from the yen's decline.

"Due to slow production, Hyundai-Kia were burdened more by fixed expenses such as research & development, taxes and depreciation costs," said Hanwha Securities Co. analyst Ahn Soo-woong. "The carmakers also paid their workers more incentives than expected after the strikes ended."

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BMWRocks - 10/31/2006 12:45:11 PM

-1 Boost

Oops, looks little from here. hahahaha

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kart1 - 10/31/2006 5:10:12 PM

-1 Boost

And they will top Toyota within 3 years.

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S4cabriofox - 10/31/2006 6:27:03 PM

-2 Boost

Hyundai is still a force to be reckoned with. Honda had a similar problem. Both could easily topple Toyota, and both have almost as much cash resources.

I'd like to see Honda end out as the winner. They're the little company that could- all their cars have so much more character than their Toyota equivalents, with equally high-quality materials and first-rate reliability. The essence of reliability is Honda. When someone says "reliability", I think of my kids' Honda Civic.

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S4cabriofox - 10/31/2006 6:27:17 PM

-2 Boost

And, by the way, at least they're MAKING a profit at all!

Homer008 - 10/31/2006 6:48:32 PM

+5 Boost

S4cabriofox, I respected many of your commentaries and comments made here in previous times. And, I do agree with you most of the time but you just totally proved me you are just a BIG FAT HAIRY BIG FOOTED moran. Both could easily topple Toyota?????????????????????????? and have almost as much cash resources?????????????????
How ridiculous is this you are saying?

Toyota's single year's worth of profit is so large that they could buyout entire American Auto Makers. That is in a single year's worth of profit!

You have just lost all of my respect meathead, and I almost thought you were one of the sane folks around here..I was totally WRONG. Go put on a dunce cap S4 and kick yourself in the ass.

huu76 - 10/31/2006 9:41:15 PM

+3 Boost

No, Honda's sales still rose, their profit reflected the one time charge that won't be back next year.

Hyundai isn't even a major player yet and already their workers are taking pointers from the UAW. Anyway, when Hyundai can sell as many cars as Toyota and make as much money (and spend as much on R&D), then they might earn some respect. Remember, Toyota doesn't just make cars.

S4cabriofox - 10/31/2006 10:16:55 PM

-2 Boost

"This is the time when he asks everyone " Hmmmm!! should I buy a Hummer H2 or a Toyota Prius to go along with my red socks"."

Wow, hilarious. Gave me a good laugh.

Especially because I think the Prius is a just an image-conforming trend car, and the H2 is now the stupidest car in the world because the H1 isn't in production any more.

S4cabriofox - 10/31/2006 10:18:15 PM

-1 Boost

"S4 is among the Toyota/Lexus haters that will support any brand that they think will "topple Toyotak in 3 years!!!"

These people are only exposing themselves as wackos."

Where did I say three years? It's possible Honda could, if they come out with a breakthrough Accord, but I know Hyundai won't.

My problem is that I don't see what's so amazing about Toyota, especially when Honda cars are superior in every respect, for similar prices. I could understand why someone would buy a Toyota over a Hyundai- but not a Honda.

S4cabriofox - 10/31/2006 10:20:04 PM

-1 Boost

And, finally, I'm not a Lexus hater. Perfectly nice cars. Just not the best luxury brand out there right now IMHO.

Give them fifty years or so, and then they'll know how to design a truly beautiful luxury sedan.

And so will everyone else.

S4cabriofox - 10/31/2006 11:41:27 PM

-1 Boost

"It only took Lexus under two decades to accomplish all that they have."

And it's amounted to a lot, right? Nope! Americans in general have accepted it, but everyone else thinks it's a joke!

And you're to tell me Lexus has wonderful, inspirational styling? Go look at your own LS430! It looks like a hearse-turned-sedan! The new 460 takes the same theme and softens it, and makes it look like the most bland luxury sedan on Earth!

Their interiors are overrated. Competitors that have better ones:

IS = A4

GS < A6 and E-Class

LS < A8, XJ and S-Class

RX < Touareg, new X5

GX < Q7, Range Rover Sport

LX < Range Rover

SC < SL, XK

ES < TL, Avalon

I am just so sick of this crap. Lexus is not the best!!! My God! I don't think Audi is the best, either! It's all subjective! If you think the LS is the best-looking car in its class, you have a major problem! There are just so many appealing cars there!

kart1 - 11/1/2006 2:13:37 AM

+3 Boost

"And it's amounted to a lot, right? Nope! Americans in general have accepted it, but everyone else thinks it's a joke!"

Only Europeans take Audi seriously, Americans think it's a complete joke.

Don't play the "Lexus only sells in America" card. Audi has no success in the most important market in the world. Audi simply doesn't have very good marketing techniques. When was the last time I saw an Audi ad??? I don't even remember even seeing one.

rocker - 11/2/2006 12:13:19 AM

+1 Boost

What's a MORAN? Didn't she play Joanie on Happy Days? Erin Moran.

AudiBimmer - 10/31/2006 7:54:01 PM

-1 Boost

Nice homer, you really need to work on your etiquette. There's no need to be such a di*k. S4 is entitled to his opinion and your entitled to retort but there's no need for your flagrancy. This site is for enthusiasts not for as*holes.

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S4cabriofox - 10/31/2006 10:19:03 PM

-2 Boost

At least some people realize how offended die-hards get on this site.

Thank you!

huu76 - 11/1/2006 12:06:12 AM

+3 Boost

Only Americans have accepted Lexus? Funny, sales numbers indicate the Japanese and Europeans have begun accepting Lexus.

I haven't seen it yet, but apparently the IS is doing very well in S.Africa. Anyone have a link?

Foxy,
Actually, it only took Lexus about 12 years to become #1 in N.America. They've just remained on top since.

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huu76 - 11/1/2006 10:28:24 PM

+1 Boost

#1 in all you mentioned. That stings doesn't it?

Homer008 - 11/1/2006 12:15:48 AM

+1 Boost

S4cabriofox, Go floss your teeth with the sweaty hairs on AudiBimmer's ass you Mega-Troll POS, MotherF..er.

You haven't proved a damn thing boy..Only thing that you have confirmed to me is that either your parents were both crackheaded cousins or you have biggest fricken braintumor, the size of empire state building.

Why?? Why, can't you be nice like me S4 and just stop your inferiority complexity issue filled commentaries. I'm good as you Lexus shit is getting old. Certainly if you said..I'm in the same league as Lexus on certain things..that's different story.

And oh, does your parents know you are gay?

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delan - 11/1/2006 12:57:49 AMView My AgentSpace

+3 Boost

Wow. Memo to self...never get in a verbal fight with nicehomer

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mstangpny07 - 11/1/2006 7:59:49 AMView My AgentSpace

-1 Boost

Did you hear that Hyundai's profit dropped in Quarter Three? I had no idea!

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Homer008 - 11/1/2006 8:15:26 AM

+2 Boost

(Devil's advocate response)

Did you hear that VW/Audi lost over 2 billion bucks in 2 years? I had no idea!

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Homer008 - 11/1/2006 8:16:45 AM

+1 Boost

In the U.S. Market not sure about overseas like in Mexico.

XYZZ - 11/2/2006 4:56:02 AM

+1 Boost

mexico is overseas?

Rupert - 11/2/2006 5:38:46 PMView My AgentSpace

+1 Boost

haha which sea would it be over nicehomer?

rocker - 11/1/2006 12:55:25 PM

+1 Boost

Profits fell after they stopped cheating their own government and shareholders.

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Rupert - 11/1/2006 6:27:16 PMView My AgentSpace

0 Boost

nicehomer, mromar, you are both so pathetic. s4 says he likes honda, and says he doesn't like toyota, and BANG, you launch into attack. nicehomer, you are the worst poster on this site ever. worse than logical, worse than kara, for christsakes. you launch vicious, personal insults onto people who don't like lexus, or point out the obvious, like the bland-as-rice LS (with horrible plastic metal inside), or the absolutely god-awful SC.
calling people gay, or calling them faggots is one other thing that you seem to specialise in. do you have any idea of the offence you cause? you're implying that being gay is somehow the worst thing ever, and it is perfectly acceptable to use as an insult. and to top it all you use such a horrible and degrading word like faggot, which to a gay person, is probably the equivalent of calling a black person a ni**er. it's shocking just how little you care about other people.
you write comments to deliberately cause offence, such as "Mega-Troll POS, MotherF..er.", "Listen bonehead", "And oh, does your parents know you are gay?". real mature.
and the worst thing is, you resort to these pathetic insults over something as trivial as a CAR. i don't understand the obsession with toyota either, i'd much rather buy a honda, far more exciting a brand. lexus isn't the best, toyota isn't the best, audi, mercedes, none are the best! don't get so worked up when someone doesn't like your car! it is SAD when you get so agitated when someone says lexus look bland, or lexus are boring, or lexus have bad interiors. it is a car. get over it.

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Homer008 - 11/1/2006 8:22:09 PM

+1 Boost

can't hang..don't read it motherf..ker!

S4cabriofox - 11/2/2006 12:07:54 AM

0 Boost

You are the most logical person on this website.

A congratulatory round of applause.

And I really have to wonder why they attack me when I say I like Honda better... what's wrong with that? And I mean really, there's no Toyota that's better than a Honda! It's just that they're more fun to have, and just as practical!

Rupert - 11/2/2006 11:13:44 AMView My AgentSpace

+1 Boost

hondas have more character than practically all german cars, including audi. germans don't do character very well.

mkt1982 - 11/1/2006 7:33:54 PM

+1 Boost

A kimchi should stop excitement.
Toyota and Lexus is not related to this news.

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huu76 - 11/1/2006 10:32:35 PM

+2 Boost

I was looking through a flyer that Kia sent out with our local paper. My god they pack those things with a lot of features, and usually at a significant enough lower price. They're much better value than I had thought.

This is probably the main reason why their profits took such a big hit from a production disruption. Very little margin on each unit sold. If Kia/Hyundai had better brand value, they could raise their margins.

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