News Summary: Strikes dent Hyundai 3Q profit

News Summary: Strikes dent Hyundai 3Q profit

Associated Press

WINDING ROAD: Hyundai's took a hit to its third-quarter profit after strikes in South Korea limited vehicle production, but its stock jumped after the carmaker said annual output would exceed forecasts.

CRANKING: The nation's largest automaker estimated that its global vehicle production in the final three months of this year would reach 1.2 million vehicles, including 540,000 vehicles at factories in South Korea. That would put annual production at 4.38 million vehicles for 2012, higher than its 4.29 million target.

PICKING UP THE SLACK: Industry watchers say the company increased capacity in China, Brazil and the United States as well as in South Korea.

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