Hyundai Motor's Q2 net halves to $729 mn due to poor sales in China, US

This is the 14th straight bleak quarter for the automobile company

Hyundai Motor's bleak results stretched into a 14th straight quarter as political headwinds continued to drag down sales in China, its biggest market, and higher incentives failed to boost business in the United States (US).

The South Korean firm — which together with affiliate Kia Motors is the world's No.5 automaker together — has been betting on a gradual earnings recovery, but the plan hit a roadblock with China's backlash over Seoul's decision to deploy an anti-missile system showing no signs of abating.

For the second quarter ended June, Hyundai Motor reported a net profit of 817 billion won ($729.14 million), down