Hyundai Motor's revenue for the third quarter of this year has decreased.

Analysts attribute this to the fallout from production disruptions caused by strikes and a decline in global demand.

However, the company succeeded in defending its profitability through the expanded sales of hybrid vehicles.

Hyundai Motor announced today (October 29) that its preliminary consolidated operating profit for the third quarter of this year was tallied at 2.6772 trillion KRW, marking a 5.5% increase compared to the same period last year.

Revenue dropped 3.4% year-on-year to 45.1102 trillion KRW, while net profit fell 24.2% to 1.9317 trillion KRW.

Industry watchers note that although sales volume decreased due to fewer operating days and production disruptions at domestic plants, the company managed to defend its profitability through favorable exchange rates and a product mix improvement driven by increased hybrid electric vehicle (HEV) sales.