Due to ongoing pressure from US tariffs and the slowdown of the electric car transition in certain areas, Hyundai Motor Co.’s fourth-quarter profit fell short of projections.The Seoul-based company reported on Thursday that its operating profit for the three months ending December 31 was 1.7 trillion won ($1.2 billion), a decrease of around 40% from the same period last year. That was less than the 2.7 trillion won that analysts had predicted.
In the meantime, revenue reached a record for the fourth quarter of 46.8 trillion won, up around 0.5%.
Also Read: Marco Rubio details how the Trump administration will control Venezuela’s oil moneyHyundai’s results come as the sales picture for South Korean automakers is clouded by the US and Europe’s faltering EV transition.
In the meantime, revenue reached a record for the fourth quarter of 46.8 trillion won, up around 0.5%.
Also Read: Marco Rubio details how the Trump administration will control Venezuela’s oil moneyHyundai’s results come as the sales picture for South Korean automakers is clouded by the US and Europe’s faltering EV transition.
Hyundai and its affiliate Kia Corp. were among the most severely impacted by US tariffs. They were shocked this week when President Donald Trump announced that he would raise auto levies to 25% once more, citing the country’s legislature’s inability to specify the terms of the trade agreement the two countries reached last year.
After the findings were announced, shares lost ground. However, the euphoria surrounding the company’s foray into robotics has kept the stock up roughly 70% this year.
(Edited by : Juviraj Anchil)
