Hyundai Motor Company's Q3 Operating Profit of 3.6 Trillion...6.5% year-on-year ↓

Hyundai Motor's operating profit fell slightly in the third quarter of this year due to extended guarantees in North America.

Hyundai Motor has tentatively estimated that its operating profit in the third quarter of this year was KRW 3.6 trillion, down 6.5% from the third quarter of last year.

Revenue rose 4.7% to 42.9 trillion won, the highest on a three-quarter basis ever.

Net profit fell 3% to 3.2 trillion won.

Hyundai Motor explained that the decrease in operating profit was due to the preemptive extension of guarantees to Grand Santa Fe in North America, which resulted in 320 billion won in provisions, excluding this, in line with market expectations.