SEOUL, South Korea (AP) - Hyundai Motor Co. says its second quarter earnings sank 24 percent due to a sales drop in China and weakness in other markets due to falling currencies.

SEOUL, South Korea (AP) Hyundai Motor Co. says its second quarter earnings sank 24 percent due to a sales drop in China and weakness in other markets due to falling currencies.

Its April-June net income was 1.79 trillion won ($1.54 billion). Sales stayed nearly flat at 22.8 trillion won while operating income dropped 16 percent to 1.75 trillion won.

Hyundai said China sales declined as its local makers of cheap vehicles recorded explosive sales growth. Declines in the euro, Russian ruble and Brazilian real pushed down demand for foreign cars in those countries and hurt Hyundai's bottom line.

The maker of Sonata sedan said it plans to bring forward the launch of new vehicles and increase the production of sports utility vehicles.

It sold 2.42 million vehicles during the first half of this year.