Hyundai Motor reports 21% drop in Q2 operating profit, misses forecasts
Hyundai Motor reported a 21% decline in second-quarter operating profit to 2.9 trillion won (US$1.98 billion), missing analysts' estimates of 3.2 trillion won. Revenue rose 2% year-on-year to 49.2 trillion won. The weaker performance was attributed to weaker vehicle sales, production disruptions, and higher costs, partially offset by a weaker won. Hyundai, the world's third-largest automaking group by sales alongside affiliate Kia Corp, warned of persistent macroeconomic uncertainty and tougher industry competition. The results reflect broader challenges facing the auto industry, including rising energy and raw material costs, supply chain disruptions linked to US tariffs, and conflict in the Middle East. Shares of Hyundai Motor rose 2% following the earnings announcement.
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