SEOUL -- Hyundai Motor, South Korea's largest automaker, reported a third-quarter operating loss as it preemptively set aside funds to cover costs related to faulty engines in some older models.
The company said on Monday that it posted 313.8 billion won ($277.8 million) in red ink on an operating basis for the July-September period from an operating profit of 378.5 billion won in the same quarter a year earlier. Hyundai recorded a net loss of 188.8 billion won for the period, compared with a 460.5 billion won net profit. Its revenue rose 2.3% to 27.6 trillion won.
