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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai and Kia saw their sales increase in the third quarter of this year from a year earlier. Both companies recorded the highest sales in the third quarter after the COVID-19 (2020) and the shortage of supply and demand for automotive semiconductors (2021-2022). If this trend continues, Hyundai and Kia's sales are expected to exceed 4 million and 3 million units this year, respectively.
Third-quarter earnings are also expected to maintain a consistent trend. The combined operating profit of Hyundai and Kia in the third quarter of this year is expected to exceed 6 trillion won, according to stock market estimates. In particular, Hyundai Motor is expected to record the largest operating profit among listed companies in Korea following the second quarter.
Hyundai Motor's car sales in the third quarter were 1,043,789 units, up 2.1 percent from a year earlier. The highest sales in the third quarter of this year was in September, when 357,151 units were sold during the period. However, sales fell slightly by 0.1% compared to the same period last year.
Hyundai Motor's sales in the third quarter of this year were the second-highest among third-quarter sales in the past five years (2019-2023). The highest sales volume was in 2019, when Hyundai Motor sold 1,103,362 units.
Kia sold 777,832 units in the global market in the third quarter. This is an increase of 3.5% compared to the previous year. Kia also had the highest sales in September in the third quarter. Kia's sales reached 261,322 units in September, up 2.1% from the previous month.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
