Hyundai Motor Q1 profit falls as EV demand weakens

Automaker says it is responding to market trends with more hybrids

20240423 HUNDAI

Hyundai Motor is responding to a slowdown in demand for electric vehicles by offering more hybrids. © Reuters

KIM JAEWON, Nikkei staff writer

SEOUL -- Hyundai Motor's operating profit fell slightly in the first quarter from the same period a year ago on subdued growth in the global electric vehicle market as hybrid cars find more favor with consumers.

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