By Daniel Hunter

South Korean car manufacturer Hyundai has reported its lowest profits since 2010.

Hyundai said profits were down 15% to 7.65tn won ($7bn; £4.6bn). Profits in the fourth quarter were down 22%, marking a fourth consecutive quarter of falling profits.

The carmaker said competition from international manufacturers and currency markets affected sales.

"We expect competition to intensify in overseas markets, while makers of imported cars step up sales, boosted by tariff cuts and currency effects in the domestic market," Hyundai said.

A weak yen made Japanese cars cheaper to buy in the US, which is Hyundai's second biggest market.

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