Hyundai Has Biggest Profit in Seven Years, Warns About Chips
- Output disruptions in May, June to affect third-quarter sales
- Hyundai shifts to securing chip supplies on an annual basis
A Hyundai Kona electric sport utility vehicle on the assembly line at the plant in Nosovice, Czech Republic.
Photographer: Milan Jaros/BloombergThis article is for subscribers only.
Hyundai Motor Co. posted its biggest profit in seven years, helped by sales of luxury Genesis cars and Ioniq 5 electric vehicles, but warned the global chip shortage could impact third-quarter deliveries.
Operating profit rose to 1.89 trillion won ($1.64 billion) in the three months ended June 30 from 590 billion won a year earlier -- the highest since the second quarter of 2014, the South Korean automaker said Thursday. The result was in line with the average analyst estimate of 1.9 trillion, according to data compiled by Bloomberg.