Both China and the United States are experiencing cold Hyundai Motor's Q3 profit fell by 20%

Hyundai Motor reported on October 25th that Hyundai’s third-quarter profit fell by 20%, and its net profit fell from KRW 1.06 trillion in the same period last year to KRW 852 billion (US$ 758 million). The reason for the decline was Hyundai Motor’s claim that it was caused by the dispute between the two countries on the issue of Sadr.

From January to September this year, the Chinese market was extremely bleak, dropping by 30%. Beijing Hyundai’s cumulative sales from January to September totaled approximately 560,000. Although the number of wholesales in September rose to 85,000, there is still a long way to go before the scheduled annual sales target is reached.

Coincidentally, it also performed poorly in the United States, the second largest market. From January to September, Hyundai Motor sales in the United States fell by 13%.

China and the United States as the Hyundai Motor’s second largest overseas auto market, perform poorly in these two markets, which will undoubtedly directly affect its revenue and profit.

Hyundai has implemented a series of incentive measures to reverse the sales situation in the two major markets of China and the United States, such as launching more SUVs, etc., but there are still professionals who say that they can't hold back the sales status of Hyundai in the short term. look forward to.