Hyundai Cites Lower Revenue

SEOUL, South Korea (AP) - Hyundai Motor says net profit and
sales fell in the first quarter amid the global auto slump.

The South Korean company announced Thursday that net profit
dived 42.7 percent from a year earlier in the three months ended
March 31.

Hyundai Motor Co. earned 225 billion won ($166.72 million) in
the quarter, down from 392.7 billion won a year earlier.

Sales fell 26.4 percent to 6.03 trillion won from 8.20 trillion
won the year before.

Hyundai said its worldwide vehicle sales dropped 13.3 percent in
the quarter amid falling global demand.

Hyundai and affiliate Kia Motors Corp. form the world's
fifth-largest automotive group. Both companies have been expanding
aggressively overseas.

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