Hyundai Motor posts small profit increase in Q2 on hybrids

Automaker eyes more such sales as hedge against possible Trump return

20240725 Hyundai

Hyundai Motor's Kona Electric SUV: The company's EV sales fell 24.7% year on year in the three months through June. © Reuters

KIM JAEWON, Nikkei staff writer

SEOUL -- Hyundai Motor said on Thursday that its operating profit increased 0.7% in the second quarter to 4.3 trillion won ($3.1 billion) from the same period last year as strong hybrid sales offset falling demand for electric vehicles.

The automaker also announced that revenue rose 6.6% to 45 trillion won for the three months until June year on year. Net profit, meanwhile, jumped 24.7% to 4.2 trillion won.

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