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business16h ago
Key facts: Hyundai Q1 revenue KRW45.9T; production limits curb recovery
- Hyundai Motor posted KRW 45.9 trillion in Q1 revenue, up 3.4% year over year.
- Overall demand for Hyundai products declined 7.2% during the quarter.
- Operating profit dropped to KRW 2.51 trillion, down 31% year over year.
- Net income also declined to KRW 2.34 trillion (-26% y/y).
- CEO Jose Muñoz said production limits hinder offsetting lost Middle East sales.
- Near-term revenue recovery is constrained by supply limits.
- Hyundai continues to push Eco-friendly and hybrid sales amid demand shifts.
- The quarter reflects ongoing challenges in rebalancing output strategy.
- Hyundai's first-quarter results show a mixed picture of higher revenue but weaker profits.
- The company noted ongoing demand weakness and limited ability to reallocate output.
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