Hyundai Motor has reported a 19% decline in net profit, amounting to approximately $134 million in Q3, attributed to a 2.4% decrease in sales. The company's domestic sales slightly fell by 0.1%, while exports experienced a 7.5% drop. Despite holding a 14% market share, trailing behind market leader Maruti Suzuki with 40%, Hyundai's future in the competitive Indian market looks challenging. The broader automotive industry in India has slowed, with projections indicating only low single-digit growth in car sales continuing into 2025-26. Hyundai's commitment to expanding its global market presence remains strong, as it currently exports about a quarter of its production.
Hyundai Motor reported a 19% drop in net profit for Q3, indicating challenges in sales and increased competition within India's automotive market.
Despite contributing significantly to Hyundai's global presence, challenges in the Indian market are causing concerns about future growth and profitability.
The automotive sector in India is experiencing sluggish growth, with predictions indicating that low-single-digit growth in domestic sales may persist into 2025-26.
Hyundai remains committed to enhancing its global reach while facing tough competition, particularly from Maruti Suzuki, which dominates India's automotive market.
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