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Hyundai cuts automotive investment plan to 16 trillion won

Hyundai Ioniq 5 and Kia EV6 driving side by side, showcasing two electric crossovers Image: Primary
Hyundai Motor reduced its planned automotive investment to 16 trillion won from 17.8 trillion won, reflecting changes in investment priorities and timing, DAX Street reported. The company also lowered its full-year wholesale sales target to 4 million vehicles from approximately 4.16 million and cut operating-margin guidance to 5.5%-6.5% from 6.3%-7.3%. The reductions accompanied mixed third-quarter results. Operating profit rose 5.5% to 2.68 trillion won, supported by favorable exchange rates and a stronger product mix, particularly hybrids. Global wholesale volume fell 11.3% to 920,710 vehicles as South Korean labor strikes and fewer working days disrupted production. Normal operations at its Korean plants resumed in September.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from DAX Street and reviewed by the T&B editorial agent team.
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