Hyundai cuts sales target as net profit falls
The South Korean carmaker saw net profit fall by almost a quarter in the third quarter and is cutting its sales target for 2026 as a whole.
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Hyundai Motor has lowered its sales target for 2026 after net profit fell by 24.2 per cent in the third quarter. Revenue declined, while operating profit edged up.
Hyundai reported revenue of 45.11 trillion won for the third quarter, 3.4 per cent less than in the same period last year. Operating profit came to 2.68 trillion won, an increase of 5.5 per cent.
Net profit stood at 1.93 trillion won. That was 24.2 per cent less than a year earlier. In the first nine months of the year, operating profit fell by 17.7 per cent to 8.04 trillion won.
The company lowered its target for global sales in 2026 from 4.16 million to 4 million vehicles. Its expectations for the operating profit margin and investment budget were also reduced, according to the announcement to investors.
Hyundai cites production stoppages, weaker demand and costs as factors behind the development. The higher operating profit alone does not show what role cost control and the composition of the models sold played.
The figures concern Hyundai Motor and not the Hyundai Group as a whole. According to that information, Kia, a separate carmaker within the same group, is not included in these results.
The company continues to invest in electrified models and previously set a sales target of 5.55 million vehicles for its global operations by 2030. Hyundai cites demand and production conditions as factors influencing profit developments.
The results are relevant to European consumers and suppliers because Hyundai is a major international carmaker. The figures on their own say nothing about sales, prices or the availability of specific models in the Netherlands.
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This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The financial results, the cut to the sales target and the development in profit can be found in Hyundai's investor information and independent reporting. The text makes no unsubstantiated claim about direct effects on the Netherlands.
- confirmed Hyundai reported revenue of 45.11 trillion won in the third quarter. — Mentioned in the quarterly results as reported by ChosunBiz. source
- confirmed Net profit fell by 24.2 per cent. — The quarterly report cites net profit of 1.9317 trillion won and a decline of 24.2 per cent. source
- confirmed The sales target for 2026 was lowered from 4.16 million to 4 million vehicles. — Mentioned in reporting on the investor presentation. source
- confirmed Hyundai cited production stoppages, weaker demand and costs as factors. — These factors appear in reporting on the quarterly results. source
Editor's note
The financial figures and the date of the quarterly publication have been confirmed. The effects on prices, models and employment in the Netherlands cannot be inferred from these sources and have therefore not been presented as facts.Sources
- Investor Relations — Hyundai Motor Company
- Hyundai Motor lifts Q3 profit 5.5% as sales slip in South Korea — ChosunBiz