Hyundai Motor reported net profit of Won1.93tn ($1.44bn) in the third quarter of 2026, down 24.2% year-on-year.

Revenue declined 3.4% to Won45.11tn.

In contrast, operating profit increased 5.5% to Won2.68tn, supported by favourable exchange rates, cost optimisation, and an improved product mix.

Operating profit margin rose by 0.5 percentage points to 5.9%. Global wholesale volume fell 11.3% to 920,710 units.

Domestic wholesale volume decreased 27.2% to 131,468 units after strike-related plant closures, while overseas shipments fell 8% to 789,242 units.

Global retail sales dropped 10.1% to 931,211 units during the quarter, and nine-month retail volume declined 5.1% to 2,879,590 units.

Electrified vehicles represented 26.7% of wholesale sales, an increase of 2.4 percentage points year on year.

Electrified shipments fell 2.7% to 245,540 units, including a 9.2% decrease in electric vehicle sales to 69,117 units.

Hybrid EV (HEV) wholesale sales rose 3.8% to 167,414 units, accounting for 18.2% of total volume.

Nine-month global HEV retail sales increased 19% to 524,437 units, including a 56% rise in North America to 229,187 units.

North American retail sales increased 3.2% to 325,098 units, while India sales rose 9.5% to 150,039 units.

Retail sales in Europe declined 18.3% to 122,345 units, and Middle East & Africa volume fell 30.1% to 56,495 units.

China sales decreased 50.2% to 14,674 units, while South Korea retail sales dropped 26.7% to 133,515 units.

Hyundai Motor reduced its full-year wholesale target to 4 million units from 4.16 million.

It also lowered its operating profit margin outlook to 5.5%–6.5%, from 6.3%–7.3%.

Automotive investment was cut to Won16tn from Won17.8tn, while revenue growth guidance was maintained at 1%–2%.

Motional, Hyundai Motor Group’s robotaxi company, plans to launch driverless commercial operations with Uber in Las Vegas by the end of 2026.

Earlier this month, Hyundai Motor Group, comprising Hyundai Motor and Kia Corporation, said it plans to invest $15.5bn in India over seven years, from 2026 to 2032.