Hyundai Motor reports 5.5% rise in Q3 operating profit, beats forecasts

SEOUL, October 29 - Hyundai Motor reported a 5.5% increase in third-quarter operating profit on Thursday, surpassing analyst forecasts. The South Korean automaker's profit for the July-September period stood at 2.7 trillion won ($2.01 billion), up from 2.5 trillion won in the same period last year. This performance was driven by favorable foreign exchange rates that counterbalanced the effects of partial strikes and reduced sales of older models.

Hyundai Motor, in partnership with its affiliate Kia Corp, is the third-largest automaker globally by sales. The company's operating profit exceeded the 2.4 trillion won estimate provided by LSEG SmartEstimate, a forecasting service that prioritizes analysts known for their consistent accuracy.