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Hyundai Motor and Kia say Q3 earnings to reflect $2 billion costs hit
2022.10.18 04:20
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© Reuters. FILE PHOTO: A sign shows directions to the Hyundai Motor Manufacturing Alabama automobile plant in Montgomery, Alabama, U.S. July 15, 2022. REUTERS/Joshua Schneyer
SEOUL (Reuters) -Hyundai Motor and affiliate Kia Corp’s third-quarter earnings will reflect provisions totalling a combined 2.9 trillion won ($2.04 billion), they said on Tuesday.
The costs include provisions related to their Theta GDI engines, the South Korean automakers said in regulatory filings.
Hyundai Motor said a provision of 1.36 trillion won will be reflected in its earnings while Kia flagged an earnings hit of 1.54 trillion won.
($1 = 1,422.8200 won)
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