FALCON POWERS – South Korean automaker Hyundai announced on Thursday a decline in its net profit for the third quarter, reaching 3.21 trillion Korean won ($2.33 billion), a decrease of 3% compared to the same period last year. Its operating profit fell by 6.5%, amounting to 3.58 trillion won.
Revenue for the third quarter increased by 4.7% year-on-year, reaching 42.93 trillion won, attributed to an improved sales mix and favorable exchange rates.
Hyundai Motor sold 1,011,808 units worldwide during the third quarter, a decline of 3.2% year-on-year. However, sales of electric models rose to 201,849 units, an increase of 19.5% compared to the same period last year.
The company stated that it expects continued uncertainty in the business environment, including slowing growth in key markets, shifts in favorable conditions such as exchange rates, and increased geopolitical risks.
