Hyundai Mobis Co., South Korea's largest auto parts maker, said Friday its third-quarter net profit fell 7.7 percent from a year earlier due to equity losses from its affiliates.Net profit for the three months to September fell to 921.23 billion won (US$668 million) from 998.11 billion won on-year, the company said in a statement."Shareholding losses from Hyundai Motor Co. and other affiliates were factored in the bottom line," a company spokesperson said.Hyundai Motor posted a 3 percent on-year decline in its third-quarter net profit at 3.2 trillion won due to increased incentives and higher warranty costs in advanced markets.Operating profit jumped 32 percent to 908.56 billion won in the third quarter from 690.21 billion won a year ago. Sales fell 1.6 percent to 14 trillion won from 14.23 trillion won during the same period.A combination of companywide cost reduction efforts, improved productivity and increased product prices helped push up the operating profit, the statement said.From January to September, net income rose 0.3 percent to 2.78 trillion won from 2.77 trillion won during the same period last year.The company received $2.4 billion worth of orders in the first nine months, achieving only 26 percent of its annual target of $9.34 billion amid slowing sales of electric vehicles.Source: Yonhap News Agency
- October 12, 2026
