Seoul: Hyundai Motor Group ranked second globally in operating profit during the first half of this year, surpassing Germany's Volkswagen Group, industry data showed Sunday. The combined operating profit of Hyundai Motor Co. and Kia Corp. totaled 13.01 trillion won (US$9.35 billion) for the January-June period.
According to Yonhap News Agency, Volkswagen Group, the world's second-largest automaker by sales volume, recorded an operating profit of 6.7 billion euros (10.86 trillion won) during the same period. This marks the first time Hyundai Motor Group has outperformed Volkswagen Group in operating profit on a half-year basis.
Hyundai, currently ranked third globally in sales volume, is believed to have narrowed the gap with Volkswagen by swiftly responding to market disruptions amid U.S. tariff measures through inventory adjustments and production management.
An industry official noted, "Although Hyundai Motor Group saw its first-half operating profit fall by more than 10 percent, it performed relatively well compared with competitors like Toyota Group, which faced over 4 trillion won in tariff-related costs." Toyota Group retained the top position globally in both sales and operating profit.