Reuters reported that South Korea's Hyundai Motor posted a 38% rise in quarterly net profit, slightly missing forecasts, as it continued to outperform in overseas markets such as the United States and Europe.

Hyundai, which ranks fifth in global auto sales together with affiliate Kia Motors, posted a KRW 2.0 won net profit for October to December 2011 period. That is up from KRW 1.45 trillion in net profit a year earlier and from KRW 1.92 trillion in the third quarter.

Its competitive pricing, helped by the weak South Korean currency, as well as its features and styling have appealed to value-seeking consumers, while its Japanese rivals suffered from the strong yen and supply issues caused by Thailand's floods and last year's earthquake.

(Sourced from ww.reuters.com)