Hyundai Motor Posts Record Q2 Revenue, but Operating Profit Drops 20.8%

Hyundai Motor reported its highest-ever quarterly revenue for the second quarter, driven by record-high hybrid vehicle sales and a favorable exchange rate effect. However, its operating profit declined by more than 20% due to rising raw material prices and disruptions in parts supply.

During a conference call on its business performance held today, Hyundai Motor announced that its second-quarter consolidated revenue reached 49.2153 trillion won, with an operating profit of 2.8509 trillion won.

Hyundai Motor's global wholesale sales in the second quarter fell 6.9% year-on-year to 991,885 units. Domestic sales also dropped 16.4% to 157,647 units, affected by supply disruptions resulting from a fire at a parts supplier.

Overseas sales decreased by 4.9% to 834,238 units amid a slowdown in global demand. However, in the key U.S. market, sales rose 0.9% from a year earlier to 264,587 units, maintaining a market share in the 6% range for the fifth consecutive quarter.

Second-quarter hybrid sales hit an all-time quarterly high of 187,661 units. Electric vehicle (EV) sales stood at 69,366 units, while total electrified vehicle sales, combining hybrids and EVs, increased by 1.7% to 266,627 units.

Hyundai Motor projected that challenging business conditions would persist due to ongoing macroeconomic uncertainties and intensifying competition among manufacturers.

Accordingly, the company aims to achieve its initial annual earnings guidance by successively launching new vehicles with high product competitiveness and continuing company-wide efforts.

In January, Hyundai Motor presented its annual targets for the year: a consolidated revenue growth rate of 1% to 2%, an operating profit margin of 6.3% to 7.3%, and wholesale sales of 4,158,300 units.

Meanwhile, in accordance with the corporate value-up program announced in 2024, Hyundai Motor plans to issue a quarterly dividend of 2,500 won per share, the same as the same period last year.

(Photo provided by Hyundai Motor, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.