[Featured Stock] Hyundai Motor Falls on Possibility of Q3 Earnings Slowdown

[Image source=Yonhap News]

Hyundai Motor's stock price is falling as concerns arise over a potential slowdown in earnings due to weak overseas sales in the third quarter.

As of 2:45 PM on the 3rd, Hyundai Motor's stock is trading at 236,500 KRW, down 3.86% (9,500 KRW) from the previous day.

On the same day, Yoon Hyuk-jin, a researcher at SK Securities, stated that there are concerns about a slowdown in Hyundai Motor's third-quarter earnings due to weak overseas sales. Researcher Yoon analyzed, "Both Hyundai Motor and Kia experienced a decline in overseas sales compared to the previous year," adding, "In particular, Hyundai Motor's sales dropped by 7.2%, reflecting the recent global demand slowdown and intensified competition."

Hyundai Motor's global wholesale sales in August were 333,000 units, down 5.3% year-on-year and 0.1% month-on-month. Specifically, overseas sales in August were 275,000 units, a 7.5% decrease compared to the previous year but a 3.7% increase compared to the previous month.