Leading Automakers Post Surging Profits

VOA Breaking News (Voice of America)
October 28, 2010 at 3:55 pm

Two of the world’s biggest automakers, Hyundai Motor and Daimler AG, have reported surging profits for the July-to-September quarter.

South Korea’s Hyundai Motor said Thursday its net profit jumped 38 percent from the previous quarter to $1.2 billion. The largest South Korean automaker said its profits got a boost from strong sales to overseas markets such as China, India and the United States.

Germany’s Daimler said its net profit soared to $2.2 billion in the third quarter from just $77 million in the same period of 2009, when the auto industry was in a global slump.

The maker of luxury Mercedes Benz cars said it benefited from strong sales in China and the United States. Daimler also is one of the world’s top manufacturers of trucks.

Some information in this story was provided by AP, AFP and Reuters.