Latest news with #Hyundai
Business Recorder
an hour ago
- Automotive
- Business Recorder
Hyundai Motor Q2 profit falls 16% as US tariffs weigh
SEOUL: Hyundai Motor posted a decline in second-quarter operating profit on Thursday, down 16% from a year earlier, as U.S. tariffs on vehicles and parts started to weigh on its bottom line. Hyundai, which together with affiliate Kia is the world's third-biggest automaking group by sales, booked operating profit of 3.6 trillion won ($2.64 billion) for April-to-June, compared with 4.28 trillion won in the same period a year earlier. The result compared with a 3.5 trillion won LSEG SmartEstimate drawn from 22 analysts. The consensus estimate gives more weight to analysts who are more consistently accurate. The South Korean automaker said it was sticking to its annual profit target for now even after U.S. tariffs cost the company 828 billion won in the second quarter. U.S. tariffs pose risks to its operations, it added. The company said its revenue rose 7% from a year earlier to 48.3 trillion won, versus an analysts' consensus of 47 trillion won. Hyundai Motor shares fell 3.2% after the earnings announcement.
Nikkei Asia
an hour ago
- Automotive
- Nikkei Asia
Hyundai Motor profit falls 16% in Q2 on Trump tariffs
The earnings announcement comes one day after the U.S. and Japan agreed to reduce tariffs on Japanese autos to 15%, potentially hurting Hyundai's price competitiveness in the U.S. market. © Reuters KIM JAEWON SEOUL -- Hyundai Motor's operating profit fell by 15.8% in the second quarter as a U.S.-imposed 25% tariff on autos weighed on South Korea's biggest vehicle maker. The company, which ranks as the third-largest automaker in the world in tandem with affiliate Kia, said on Thursday that operating profit came to 3.6 trillion won ($2.6 billion) for the April-June quarter from 4.3 trillion won during the same period last year.
Business Upturn
an hour ago
- Automotive
- Business Upturn
Hyundai Motors parent company reports 7.3% revenue growth in Q2 2025, Indian sales down 9.9% YoY
By Aditya Bhagchandani Published on July 24, 2025, 10:45 IST Hyundai Motor Company reported a 7.3% year-on-year increase in consolidated revenue for Q2 2025, reaching ₩48,287 billion. However, net income declined by 22.1% YoY to ₩3,250 billion amid rising costs and currency-related impacts. The company's operating income also fell 15.8% YoY to ₩3,602 billion, with the automotive segment's profit dropping 39.5% during the quarter. Despite solid global wholesale volumes of 1.07 million units—Hyundai's highest quarterly figure since 2020—the Indian market saw a significant downturn. Hyundai's wholesale sales in India declined 9.9% YoY to 131,000 units, following an 11.5% drop in Q1, reflecting weak demand and a shifting market environmen. Sales growth was led by eco-friendly vehicles, with HEV and EV models driving performance in Korea, Europe, and the U.S. In Korea alone, eco-friendly vehicle sales grew 46% YoY, supported by the launch of the Palisade HEV and the new IONIQ 9 EV. While global momentum remained intact, the India market remains a key challenge area as Hyundai works to optimize product strategy and production mix going into H2 2025. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
New Straits Times
2 hours ago
- Automotive
- New Straits Times
Hyundai Motor Q2 profit falls 16pct as US tariffs weigh
SEOUL: Hyundai Motor posted a decline in second-quarter operating profit on Thursday, down 16 per cent from a year earlier, as US tariffs on vehicles and parts started to weigh on its bottom line. Hyundai, which together with affiliate Kia is the world's third-biggest automaking group by sales, booked operating profit of 3.6 trillion won (US$2.64 billion) for April-to-June, compared with 4.28 trillion won in the same period a year earlier. The result compared with a 3.5 trillion won LSEG SmartEstimate drawn from 22 analysts. The consensus estimate gives more weight to analysts who are more consistently accurate. The South Korean automaker said it was sticking to its annual profit target for now even after US tariffs cost the company 828 billion won in the second quarter. US tariffs pose risks to its operations, it added. The company said its revenue rose 7 per cent from a year earlier to 48.3 trillion won, versus an analysts' consensus of 47 trillion won. Hyundai Motor shares fell 3.2 per cent after the earnings announcement.
Straits Times
4 hours ago
- Business
- Straits Times
Would you wait hours to have watermelon sliced? In South Korea, many do
Find out what's new on ST website and app. People would queue for hours to have fruits, including watermelons, cut at some Hyundai department stores in Seoul. SEOUL - At Hyundai department stores in Seoul, long lines are nothing new. Shoppers regularly queue for designer handbags or the latest dessert trends. But this summer, one of the longest lines is for the watermelon - or more precisely, to have it cut. At seven Hyundai locations, including The Hyundai Seoul in Yeouido, customers wait for hours to have their fruit sliced and packed into containers, ready to be eaten or stored in the refrigerator. The service, called Fresh Table, was launched in 2021 as Korea's first in-store station dedicated to slicing fresh fruits and vegetables. Customers must first purchase the fruit. If they don't bring their own container, they can buy one at the store. After that, they bring the fruit, along with the receipt, to the Fresh Table to have it cut. The service quickly gained popularity, especially among watermelon lovers. According to Hyundai Department Store, weekend wait times can stretch to two or three hours and sometimes even longer. That's why some customers rush to grab an online queue ticket the moment the doors open. Staff at the seven branches are slicing up 600 to 700 whole watermelons each day throughout July, a Hyundai Department Store official said. When a Korea Herald reporter visited the Yeouido branch at around 2.30pm on July 20 , a member of staff approached almost immediately. Top stories Swipe. Select. Stay informed. 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Ms Yoon Seo-young, a 36-year-old mother from Yeongdeungpo-gu, Seoul, came to wait with her husband and toddler after hearing about the service from a friend. 'I waited a little over two hours. I could shop while waiting so it was not a big deal,' she said. 'The watermelons here are already sweet and tasty, but having the cutting service is even better. When you're raising a child, one less chore makes a big difference.' She added that it also saves her from dealing with bulky food waste. 'Usually, the rinds take up more than half of a 5-litre food waste bag. It's annoying. Now I can just take it home and eat it.' Ms Im Bo-min, 40, who has used the service several times, said she especially likes being able to customise how it's cut. 'I usually have half chopped into cubes and the other half left in big chunks,' she said. 'The cubed pieces release too much water too quickly. I actually got this tip from a moms' online community.' At Hyundai, you have to buy a whole watermelon to use the cutting service, which is why you'll often see people online looking for someone to split one with. Despite the large portion, Ms Im said it's still worth it. 'Other places sell smaller packs of pre-cut watermelon, but they're not as fresh,' she said. 'Here, you can actually see them cutting it, and that makes a difference.' Even those who didn't end up using the service showed interest. Around 4pm, a man in his 50s, surnamed Kim, stopped in front of a display of pre-cut watermelon at the station, assuming he could buy it right away. After hearing about the wait time, he shook his head. 'I have dinner plans, so I can't stay,' he told The Korea Herald. 'But I'll come back. My wife loves watermelon, and honestly, cutting it at home is kind of a hassle.' Ms Jung Ji-young, 35, said she skipped the service because of the price. 'It costs over 50,000 won (S$47) with the container. That's almost double what I'd pay at a local discount store,' she said. 'My husband said he'd 'sacrifice' and cut it himself. But I get why people line up for the service. If it were cheaper, I'd probably do it too.' A Hyundai Department Store official also said the service has been particularly popular among households with children and single-person households, both of which value convenience and find it difficult to handle bulky food waste. 'In fact, fruit and vegetable sales at branches with Fresh Table have increased more than twice compared to those without it,' the official said. The pre-cut fruit trend is going mainstream Hyundai isn't the only player riding the wave of selling fruit in a more convenient, ready-to-eat form. Across Korea, convenience stores, neighborhood fruit stands and online grocers are rolling out their own ready-to-eat fruit options, often in small portions ideal for one or two servings. 'I once ordered pre-cut watermelon from Kurly (the online grocery platform). I loved how convenient it was, and it was just the right amount for two servings,' said 32-year-old Choi Hee-jung. 'Since I live alone, I can't imagine buying a whole watermelon, let alone dealing with the hassle of cutting it.' Ms Jang Hye-jin, 29, who also lives alone, echoed the sentiment. 'I rarely buy whole fruit. But sometimes I order a small pre-cut pack from a local fruit shop. It's pricey, so I can't do it often. But when I think about how much I'd waste buying a whole one, the cost feels worth it.' Just on July 20 , Shinsegae's convenience store chain Emart24 announced a new partnership with OROT, a local fruit vending machine brand. Together, they launched Pinkkio, a smart fridge stocked with freshly cut fruit in small portions, now being tested at select Emart24 stores. 'The move reflects changing consumer habits,' an Emart24 official said. 'With more people living alone and prioritizing convenience, demand for smaller fruit portions has grown.' According to Emart24 data, small-portioned fruit sales at Emart24 rose steadily in the second quarter of this year, up 10 per cent in May from April, and another 15 per cent in June. THE KOREA HERALD/ASIA NEWS NETWORK
