Hyundai Motor Company has seen its quarterly net profit plunge by almost a quarter from a year earlier – as South Korea’s biggest carmaker reels from the impact of the slowdown in China and lacklustre sales in the United States.<br /><br /> Net profit from July to September slid by 23 percent to 1.2 trillion won (930 million euros) – down from 1.5 trillion won (1.1 billion euros) in the same period in 2014.<br /><br /> Hyundai and its affiliate Kia Motors have slashes prices in China, while Japanese competition driven by currency moves has intensified.<br /><br /> However the group’s Chinese sales are expected to rebound in the fourth quarter, fuelled by new model launches.
