Business · Companies · 4 hrs ago
Hyundai Motor’s third-quarter revenue falls as sales weaken
Hyundai Motor’s revenue fell for the first time in six years in the third quarter of 2026, while operating profit rose.
The South Korean automaker sold 11.3% fewer vehicles than a year earlier, with domestic sales down 27.2% and overseas sales down 8%.
Fewer working days during the Chuseok holiday and production disruptions at South Korean factories contributed to the decline.
A weaker won against the US dollar and more hybrid sales helped lift profit, despite the drop in sales.
Hyundai lowered its annual sales target to 4 million vehicles and cut its operating margin target to 5.5%–6.5%; it also reduced planned investment to 16 trillion won.
The company faces slower global demand and stronger competition from Chinese carmakers and Tesla, especially in South Korea and Europe.
Hyundai plans to use new models to help revive sales, including the Avante and Tucson in the fourth quarter and the Ioniq 3 in Europe.
Hyundai Motor’s third-quarter revenue fell 3.4% from a year earlier to 45.11 trillion won.
Operating profit rose 5.5% to 2.68 trillion won, supported by currency effects and higher hybrid sales.
Global wholesale sales fell 11.3% to 920,710 vehicles, with domestic sales down 27.2%.
The company cut its annual sales target to 4 million vehicles and lowered its operating margin and investment targets.
Hyundai cited production disruptions, fewer working days and weaker global demand among the factors weighing on sales.
- Who
- Hyundai Motor.
- What
- Third-quarter revenue fell 3.4% year on year, while operating profit rose 5.5%.
- When
- The third quarter of 2026; results were announced on 29 October.
- Where
- Globally, including South Korea, where production disruptions affected sales.
- Why
- Hyundai cited production disruptions, fewer working days and weaker global demand. Currency effects and higher hybrid sales supported operating profit.
This story does not have two clearly opposing sides.
Production at Hyundai’s domestic plants returned to normal, according to the Electric Times.
Hyundai announced third-quarter results and lowered its annual sales, operating margin and investment targets.
Hyundai planned to pursue a sales recovery with new models including the Avante, Tucson and Ioniq 3.
- Third-quarter revenue
- 45.11 trillion won, down 3.4% year on year
- Third-quarter operating profit
- 2.68 trillion won, up 5.5% year on year
- Global wholesale sales
- 920,710 vehicles, down 11.3%
- Annual sales target
- 4 million vehicles, reduced from 4,158,300
- Operating margin target
- 5.5%–6.5%, reduced from 6.3%–7.3%
- Investment plan
- 16 trillion won, reduced from 17.8 trillion won
What people are saying
Chinese electric vehicles and Tesla are indeed quickly gaining ground in the domestic market
We are defending the market by using residual-value-guaranteed instalment plans to keep monthly payments so low that Chinese manufacturers cannot match them