Hyundai Motor's 2Q profit dips due to strong won

Hyundai Motor Co says its second-quarter profit fell 7 per cent as the appreciation of South Korean diluted its overseas earnings.
The South Korean automaker said today it earned USD 2.2 billion for the April-June period, compared with USD 2.4 billion a year earlier. The figure was in line with expectations.
Operating income dropped 13 per cent to USD 2.0 billion while sales declined 2 per cent to USD 22.13 billion.
It sold 2.5 million vehicles during the first six months of this year, up 4 per cent from the previous year.
Despite selling more cars, Hyundai said its bottom line was hit by the sharp rise of the South Korean won.