[Click eStock] "Hyundai Motor Faces Q3 Earnings Slowdown Concerns Due to Overseas Sales Deceleration"

On the 3rd, SK Securities evaluated that there are concerns about a slowdown in Hyundai Motor's third-quarter performance due to sluggish overseas sales.

Yoon Hyuk-jin, a researcher at SK Securities, stated, "Both Hyundai Motor and Kia experienced a decline in overseas sales compared to the previous year," adding, "In particular, Hyundai Motor's sales dropped by 7.2%, reflecting the recent global demand slowdown and intensified competition."

Hyundai Motor's global wholesale sales in August stood at 333,000 units, down 5.3% year-on-year and 0.1% month-on-month. Specifically, overseas sales in August were 275,000 units, a 7.5% decrease year-on-year but a 3.7% increase month-on-month.

For Kia, global wholesale sales in August were 252,000 units, down 1.7% year-on-year and 3.9% month-on-month. Overseas sales in August were 211,000 units, decreasing 1.3% year-on-year and 2.2% month-on-month.

Researcher Yoon explained, "Based on domestic sales, Hyundai Motor's hybrid sales increased by 26.9% year-on-year due to strong sales of the Tucson and Santa Fe hybrids, and electric vehicle sales rose by 38.1% with the launch of the Casper electric vehicle."

He added, "Kia's electric vehicle sales increased by 146.7% year-on-year, recording 4,002 units sold of the EV3 launched in July, but hybrid sales slightly declined year-on-year due to a decrease in Sorento HEV sales."

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