Hyundai Motor Q2 operating profit falls 20.8% to 2.85 trillion won as supply disruptions weigh
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Hyundai reported a 20.8% YoY drop in Q2 operating profit as slowing global auto demand and supply-chain disruptions from a key supplier fire constrained output, despite modest revenue growth. The results highlight near-term margin pressure and execution risk from component bottlenecks. Management's focus on new model launches and EV expansion may support H2 momentum, but the immediate read-through is weaker profitability.
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Hyundai Motor said its operating profit fell 20.8% year on year in 2024 Q2 to 2.85 trillion won ($1.94 billion), while revenue rose 1.9% to 49.2 trillion won. The decline was driven by softer global vehicle demand and supply-chain disruptions after a March fire at a key auto parts supplier, which constrained output during the quarter. The company said it expects earnings to recover in the second half, helped by launches including the facelifted Grandeur, redesigned Elantra and Tucson, and the IONIQ 3 in Europe.
