Hyundai Motor, Kia hit hard by unfavorable exchange rate in H1
Jul 27, 2014
South Korea’s two largest carmakers have fallen victim to unfavorable foreign exchange rates that caused an across-the-board drop in earnings in the first half of 2014 despite better sales than last year, industry data showed Sunday.Combined global sales of cars by Hyundai Motor and Kia Motors, flagships of Hyundai Motor Group, the world fifth-largest automotive conglomerate, reached 4,042,960 vehicles in the January-June period, up a solid 5.4 percent from 3,836,445 units tallied for the year b