Hyundai first-quarter profit tumbles 44%, far short of estimates, as coronavirus slams car demand

SEOUL (Reuters) - South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide. Net profit for January-March was 463 billion won (304.13 million pounds), far below an average Refinitiv estimate of 607 billion won drawn from 15 analysts. At the pandemic prompted governments to order lockdowns and other social distancing measures, consumer demand began..