Hyundai cuts 2026 sales target as hybrids lift quarterly profit

Key takeaways

• Operating profit rose 5.5% to 2.68 trillion won as hybrid sales grew 3.8%
• Global sales fell 11.3%, and Hyundai cut its 2026 target to 4 million vehicles
• Margin forecast falls to 5.5% to 6.5%, with no Australian changes confirmed

Hyundai Motor’s third-quarter operating profit rose 5.5% to 2.68 trillion won (about US$2 billion), helped by hybrid sales and a weaker Korean won. Global sales fell 11.3% to 920,710 vehicles over the same period.

Hyundai reported the results on 29 October and cut its 2026 global wholesale sales target, which counts vehicles shipped to dealers, to 4 million from 4.16 million. It also lowered its operating margin forecast to 5.5% to 6.5%, from 6.3% to 7.3%.

Hyundai Q3 2026 results

Revenue fell 3.4% to 45.11 trillion won and net profit dropped 24.2% to 1.93 trillion won. The operating margin still improved by 0.5 percentage points to 5.9%.

Hyundai sold 167,414 hybrids, excluding plug-in hybrids, up 3.8% and equal to 18.2% of its global sales. Higher-priced hybrids helped offset the lower volumes. Electric vehicle sales fell 9.2% to 69,117.

A labour strike disrupted production at Hyundai’s Korean plants from the second to the third quarter. Domestic sales fell 27.2% to 131,468, while overseas sales dropped 8% to 789,242. Hyundai said the strike also reduced shipments to key overseas markets, without naming them. Fewer working days over the Chuseok holiday and weaker Middle East demand added to the pressure. Hyundai estimates the Middle East alone cut earnings by 1.1 trillion won.

Hyundai’s revised 2026 guidance

• Global sales target: 4 million vehicles, down from 4.16 million
• Operating margin: 5.5% to 6.5%, down from 6.3% to 7.3%
• Revenue growth: unchanged at 1% to 2%
• Automotive investment: cut to 16 trillion won from 17.8 trillion won

Hyundai blamed slowing global demand, production disruptions and higher raw material costs, and expects continued pressure from US tariffs. It says the cut does not reflect weaker underlying competitiveness.

Hyundai sells hybrid versions of the Tucson, Santa Fe and Kona in Australia. The results are global figures, and none of the reports read mention changes to Australian pricing, model availability or deliveries.

Hyundai plans to lift profit through restored production, new model launches and cost cuts. Any impact on Australian supply is yet to be confirmed.