Hyundai reduced operating profit by 76% in the third quarter

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In the third quarter, the largest automaker in South Korea, Hyundai Motor, reduced its operating profit 4.2 times compared to the same period last year to 288 billion 900 million won, which was the most significant drop in the index since 2010. The quarterly net profit of 269 million won was also the minimum in 7 years. Only revenue showed growth in the third quarter, having increased by 1% to 24 trillion 400 billion won. In South Korea, Hyundai sales decreased by 1.4%, in the global market – by 0.4%. The company expects the first since 2008 decline in sales for the entire year to less than 4 million cars.

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