Hyundai Motor, the country's top complete vehicle manufacturer, saw its operating profit decline by nearly 20% compared to the previous year despite recording all-time high sales last year due to the impact of U.S. auto tariffs.
Hyundai Motor announced on the 29th that its annual operating profit on a consolidated basis for last year was 11 trillion 467.9 billion won, a 19.5% decrease from the previous year, according to preliminary calculations.
Sales increased 6.3% year-over-year to 186 trillion 254.5 billion won, marking an all-time high. The operating profit margin was 6.2%.
Net income was 10 trillion 364.8 billion won, down 21.7%.
U.S. auto tariffs imposed from April last year and increased overseas incentives are seen to have impacted profitability.
