Hyundai Motor Co. and its smaller affiliate Kia Corp. are set to post an operating profit exceeding 8 trillion won (US$5.7 billion) in the second quarter on improved product mix and production adjustments, a domestic survey showed Sunday.Hyundai and Kia are estimated to report an operating profit of 4.28 trillion won and 3.76 trillion won, respectively, in the three months ended in June, according to a Yonhap Infomax survey of local brokerages.Hyundai and Kia's second-quarter operating income likely rose 1 percent and 11 percent, respectively, from the same period of last year, the survey showed.The carmakers' timely response to the electric vehicle "chasm," their focus on high-end sport utility vehicles, such as the GV80, particularly in the U.S. market, and a weak won likely helped the quarterly bottom line, analysts said.The dollar rose to an average of 1,370.91 won in the June quarter from 1,314.68 won a year earlier, according to data from the Bank of Korea. A weak won drives up an exporter's do llar-denominated income when converted into the local currency.The two carmakers began to strengthen their gasoline hybrid model lineup early this year as the global EV market has entered a stagnation phase, known as the chasm, which occurs before the widespread adoption of EVs.Hyundai's sales are forecast to rise 4 percent on-year to 43.99 trillion won, while Kia's are projected to increase 5.6 percent to 27.7 trillion won during the same period.Source: Yonhap News Agency

Recent Posts
Polam Kopitiam Owner Sentenced to 22 Months in Fatal Poisoning Case
November 12, 2026
BOCA Confirms Passport Validity Remains Unaffected Amid Data Breach
November 12, 2026
Taiex Suffers Major Decline as Nvidia Controversy Escalates
November 12, 2026
Hon Hai Reports Record Q3 Net Profit Amid AI Infrastructure Investment
November 12, 2026
MSCI Increases Taiwan’s Weighting in Three Major Indexes
November 12, 2026
Jeffrey Koo Jr. Reelected as President of Baseball Federation of Asia
November 12, 2026
Deputy FM Wu Hosts French Mayotte Delegation in Taipei
November 11, 2026
Taiwan and Israel Strengthen Medical Cooperation with Renewed Agreement
November 11, 2026
Bear Sighting Triggers Hiking Safety Alert in Nantou
November 11, 2026