Overview
- Hyundai Motor reported first‑quarter net profit of 2.58 trillion won, down 23.6% year on year, after it booked 860 billion won in U.S. tariff costs.
- Kia said net profit fell 23.5% to 1.83 trillion won, with the company estimating a 755 billion won hit from U.S. import tariffs and noting pressure from a weaker won.
- Hyundai’s revenue rose 3.4% to 45.93 trillion won as hybrids set a quarterly record, with eco‑friendly models reaching 24.9% of sales and global market share rising to 4.9%.
- Affiliates showed a split picture as Hyundai Mobis’ net fell 14% to 883.05 billion won despite higher operating profit and a plan to invest 2.1 trillion won in R&D, while Hyundai Rotem’s net rose 29% to 202.7 billion won on strong defense orders.
- Management outlined next steps that include launching the Ioniq lineup in China with BAIC using CATL’s lower‑cost LFP batteries, validating software‑defined vehicle tech with Momenta and Nvidia, and using targeted incentives in Europe where Chinese EVs have created price gaps as wide as 25%.