Hyundai Motor posted an operating profit of 2.7 trillion won ($2.01 billion) for the July-September period, an improvement from 2.5 trillion won recorded a year earlier. The result outpaced the 2.4 trillion won anticipated by analysts in an LSEG SmartEstimate. These resilient earnings highlight the global strength of the firm, which ranks as the world's third-largest auto group alongside affiliate Kia Corp.
Key points
Hyundai Motor and its affiliate Kia Corp together rank as the world's third-largest autom…: Hyundai Motor and its affiliate Kia Corp together rank as the world's third-largest automaking group by sales.
Currency tailwinds were essential in overcoming operational setbacks and sluggish demand…: Currency tailwinds were essential in overcoming operational setbacks and sluggish demand for the firm's older vehicle lineup.
The South Korean automaker demonstrated resilient third-quarter profitability by exceedin…: The South Korean automaker demonstrated resilient third-quarter profitability by exceeding market expectations despite domestic manufacturing labor strikes.
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SEOUL, Oct 29 : Hyundai Motor reported a 5.5 per cent rise in third-quarter operating profit on Thursday, as favourable foreign exchange rates helped offset the impact of partial strikes and weaker sales of ageing models.
Hyundai, which together with affiliate Kia Corp forms the world's third-biggest automaking group by sales, posted an operating profit of 2.7 trillion won ($2.01 billion)for the July-September period, compared with 2.5 trillion won a year earlier.
That compared with a 2.4 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
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