Hyundai's 4th-quarter net profit hits record -, GA News Weather & Sports

Hyundai's 4th-quarter net profit hits record

SEOUL, South Korea (AP) - Hyundai Motor says net profit rose 48 percent in the fourth quarter to a record high as sales increased.

Hyundai said Thursday that it earned 1.4 trillion won ($1.3 billion) in the three months ended Dec. 31. The company earned 946 billion won in the same period last year.

The automaker said sales during the quarter rose 3.1 percent to 9.94 trillion won from 9.65 trillion won a year earlier.

Company spokeswoman Song Meeyoung said that net profit and sales figures were all-time quarterly highs.

The company is South Korea's largest automaker and is a major force in the global auto industry. Hyundai Motor and Kia Motors Corp. form the world's fifth-largest automotive group.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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