ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Hyundai says chip crunch is easing as profits soar

South Korean automaker expects second-half boost as bottlenecks clear

The Hyundai Motor booth at the Beijing International Automotive Exhibition seen here in September 2020. Hyundai sells most of its cars overseas.   © Reuters

SEOUL -- Hyundai Motor said the global chip shortage was gradually easing as the South Korean automaker reported operating profit tripled in the second quarter from a year ago thanks to strong worldwide sales.

Hyundai said Thursday that its operating profit reached 1.9 trillion won ($1.7 billion) in the April to June period, up 219.5% from the same period last year, despite production stoppages at some factories due to chip shortages.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more