Hyundai Motor Q1 net profit slumps 48%

Seoul: South Korea’s largest automaker Hyundai Motor saw its first-quarter net profits plunge 48 percent as strikes and a strong won weighed on its bottom line, it said Thursday.

Net profit for the January-March period fell to 731.6 billion won ($678 million) from 1.406 trillion won a year earlier, the company said in a statement.