Hyundai profit declines 21 percent

Hyundai Motor Company announced a 21% decline in its operating profits in the second quarter of 2026, despite a 2% increase in revenue reaching 49.2 trillion won. This reflects weak car sales and rising costs due to production disruptions, energy prices, and raw material expenses. Operating profits totaled 2.9 trillion won ($1.98 billion), down from 3.6 trillion won in the same period last year, and below the forecast of 3.2 trillion won. Nevertheless, the announcement caused Hyundai's stock to rise by about 2%. The company faces challenges from increasing U.S. tariffs, prompting it to consider expanding production in the United States and increasing investments there by $21 billion through 2028, with the aim of mitigating tariff impacts and strengthening its presence in the American market. Hyundai anticipates ongoing economic uncertainty and increasing competition, along with persistent pressures from rising costs and geopolitical tensions.

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