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Renault and Hyundai warn of coronavirus hit after profits fall

French car company says full-year guidance "impossible to assess"

France's Renault and Hyundai Motor of South Korea suffer big declines in first quarter profit.

TOKYO -- Automakers have started to reveal the impact of the coronavirus on their financial performance as France's Renault and Hyundai Motor of South Korea announced big decreases in first quarter profits and warned investors to expect further disruption.

Renault posted a 19.2% fall in first-quarter group revenue on Thursday and suspended its guidance on earnings in 2020. Hyundai said the same day that its net profit for the quarter slumped by 42.1%, the result of a temporary production disruption and shrinking demand.

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