Hyundai Records Double-Digit Decline in Operating Profit for Q1 2026

Seoul (ANTARA) - South Korea’s largest automaker, Hyundai Motor, recorded a double-digit decline in operating profit for the first quarter (Q1) 2026 due to the negative impact of tariffs imposed by the United States (US), the company stated on Thursday.

Hyundai’s operating profit fell 30.8% from the previous year to 2.51 trillion won (100 won = Rp1,163) for the January-March quarter.

Its revenue rose 3.4% to 45.94 trillion won, marking the highest ever for the first quarter. Meanwhile, net profit plunged 23.6% to 2.58 trillion won.

Hyundai stated that although sales of hybrid models remained strong, the profit declined by double digits due to the impact of US tariffs.

The automaker recorded an operating profit margin of 5.5% in the first quarter.

Hyundai sold 976,219 vehicles worldwide in the first quarter, down 2.5% compared to the same quarter last year.

The decline was influenced by geopolitical uncertainties that weakened global demand.

Domestic vehicle sales fell 4.4% to 159,066 units. Meanwhile, sales outside South Korea dropped 2.1% to 817,153 units.

Hyundai’s global sales of electric vehicles, including hybrids, plug-in hybrids, battery electric vehicles, and fuel cell electric vehicles, surged 14.2% to 242,612 units in that quarter.

These electric vehicles accounted for 24.9% of Hyundai’s total global sales.