Hyundai Mobis Q3 Sales Reach 13 Trillion Won... "Record High"

"Effect of Expanded Parts Supply on Recovery of Completed Vehicle Production"
Cumulative Orders in Q3 Reach $3.33 Billion... 90% of This Year's Target Achieved

Hyundai Mobis announced on the 28th that it recorded sales of 13.1804 trillion won in the third quarter of this year, an increase of 31.9% compared to the same period last year. This is the highest ever for the third quarter. The photo shows the exterior of Hyundai Mobis Yongin Technical Research Center. Photo by Hyundai Mobis

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Mobis recorded sales of 13 trillion KRW, marking the highest ever for the third quarter, as product supply increased due to the recovery in finished vehicle production. In particular, the company has already achieved 90% of its order target for this year, raising expectations for future growth.

Hyundai Mobis announced on the 28th that it posted sales of 13.1804 trillion KRW, operating profit of 576 billion KRW, and net profit of 559.9 billion KRW in the third quarter. Compared to the same period last year, sales increased by 31.9%, operating profit by 25.9%, and net profit by 4.6%. The sales figure is the largest ever recorded for a third quarter.

A Hyundai Mobis official explained, “As global semiconductor supply issues have somewhat eased and finished vehicle production has recovered, the expansion of module and core component supply drove the sales increase. Especially, the significant growth in the production of electrification parts applied to eco-friendly vehicles also had an impact.”

Despite external challenges such as rising raw material prices and global logistics costs, Hyundai Mobis continued its upward trend in both sales and operating profit through product mix improvement and the expansion of global demand for its A/S business.

By business segment, the module and core components division recorded sales of 10.596 trillion KRW, a 37.3% increase compared to the same period last year. Among these, sales of electrification parts reached a record high of 2.4919 trillion KRW, up 62.7%. As electric vehicle production increases, Hyundai Mobis continues to see rising sales of core electrification components such as drive systems and battery systems supplied to these vehicles. The A/S business also recorded 2.5845 trillion KRW, a 13.7% increase from the same period last year, driven by growing global demand in key markets such as North America and Europe.

Hyundai Mobis achieved notable core component order results from global finished vehicle manufacturers excluding Hyundai Motor and Kia through the third quarter of this year. The cumulative global order amount for the third quarter reached 3.33 billion USD, achieving about 90% of the annual order target of 3.74 billion USD. Starting with the supply of electric vehicle chassis modules to Mercedes-Benz, which began mass production in the third quarter, Hyundai Mobis is diversifying its portfolio to include global premium finished vehicle manufacturers and accelerating its overseas market penetration.

Meanwhile, Hyundai Mobis plans to establish a total of five new production bases dedicated to electric vehicle parts to respond to the North American electrification market. First, Hyundai Mobis will build three factories, including PE systems and battery systems, in Savannah, Georgia, where Hyundai Motor Group’s Meta Plant America (HMGMA) is being established.

Additionally, Hyundai Mobis will build battery system and PE module factories near its existing plants in Alabama and Georgia. As part of this effort, on the 27th local time, Hyundai Mobis held an investment announcement event for the battery system factory at the Alabama State Capitol, attended by Alabama Governor Kay Ivey and others.

This content was produced with the assistance of AI translation services.