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<blockquote data-quote="Relaxed Chaos" data-source="post: 16835089" data-attributes="member: 64993"><p>Ford Quality is shite, but the shit car champ is still (and will always be) Hyundai/Kai.</p><p></p><p>Hyundai Motor <a href="https://www.reuters.com/companies/005380.KS" target="_blank">(005380.KS)</a> and affiliate Kia Corp <a href="https://www.reuters.com/companies/000270.KS" target="_blank">(000270.KS)</a> will book a combined 2.9 trillion won ($2 billion) provision in their third-quarter results as they continue to suffer the effects of engine recalls from years ago, they said on Tuesday.</p><p></p><p>The costs, of which Hyundai accounted for 1.36 trillion won and Kia for 1.54 trillion won, amount to more than half of Hyundai's estimated third-quarter net profit and 77% of Kia's profit, Refinitiv data shows.</p><p></p><p>"We sincerely apologise for repeated quality issues and additional costs related to the Theta II GDI engine recall," Cha Seong-ju, head of the quality division at Hyundai Motor Group, told analysts.</p><p></p><p>[URL unfurl="true"]https://www.reuters.com/business/autos-transportation/hyundai-says-q3-earnings-reflect-956-mln-costs-hit-2022-10-18/[/URL]</p></blockquote><p></p>
[QUOTE="Relaxed Chaos, post: 16835089, member: 64993"] Ford Quality is shite, but the shit car champ is still (and will always be) Hyundai/Kai. Hyundai Motor [URL='https://www.reuters.com/companies/005380.KS'](005380.KS)[/URL] and affiliate Kia Corp [URL='https://www.reuters.com/companies/000270.KS'](000270.KS)[/URL] will book a combined 2.9 trillion won ($2 billion) provision in their third-quarter results as they continue to suffer the effects of engine recalls from years ago, they said on Tuesday. The costs, of which Hyundai accounted for 1.36 trillion won and Kia for 1.54 trillion won, amount to more than half of Hyundai's estimated third-quarter net profit and 77% of Kia's profit, Refinitiv data shows. "We sincerely apologise for repeated quality issues and additional costs related to the Theta II GDI engine recall," Cha Seong-ju, head of the quality division at Hyundai Motor Group, told analysts. [URL unfurl="true"]https://www.reuters.com/business/autos-transportation/hyundai-says-q3-earnings-reflect-956-mln-costs-hit-2022-10-18/[/URL] [/QUOTE]
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