Hyundai Motor, Kia Motors flag US$2.9 billion earnings hit from quality costs

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Hyundai Motor and affiliate Kia Motors said on Monday that their third-quarter earnings would reflect quality-related costs amounting to a ...

Hyundai Motor and affiliate Kia Motors said on Monday that their third-quarter earnings would reflect quality-related costs amounting to a combined 3.36 trillion won .

The costs would include additional provision expenses related to the South Korean car makers'"Theta" engines, the companies said in separate regulatory filings.Hyundai Motor said a cost of 2.1 trillion won will be reflected in its earnings, while Kia Motors flagged an earnings hit of 1.26 trillion won. They did not provide further details.

 

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