SEOUL, Oct. 24 (Xinhua) -- South Korea's biggest automaker Hyundai Motor logged a record-high revenue in the third quarter of this year despite lower profit caused by one-off costs, the company said on Monday.
Hyundai's revenue reached 37.7 trillion won (26.2 billion U.S. dollars) in the July-September quarter, up 30.6 percent from a year earlier.
It topped the previous record high of 36 trillion won (25 billion dollars) tallied in the second quarter.
The record revenue was attributable to the eased supply chain of semiconductors used to produce vehicles, the favorable foreign exchange environment and the robust sales of sport utility vehicles (SUVs) and Genesis luxury models.
Hyundai sold 1,025,008 vehicles in the third quarter globally, up 14 percent from a year earlier. Local car sales gained 5 percent to 162,439 units, while automotive sales outside South Korea jumped 15.9 percent to 862,569 units.
Hyundai's electric vehicle (EV) model sales advanced 27 percent to about 52,000 units on the back of robust demand for newly launched IONIQ 6 and GV60.
Operating profit declined 3.4 percent from a year earlier to 1.55 trillion won (1.1 billion dollars) in the third quarter, and net income retreated 5.1 percent to 1.41 trillion won (980 million dollars).
The lower profit stemmed from one-off quality-related warranty provisions. Hyundai said it reflected engine-related provisions to place the top priority on protecting customer safety and ensuring vehicle quality.
Hyundai has expected a gradual recovery from global chip and component shortages in the fourth quarter, but it noted that external uncertainties would continue including inflation, supply chain disruption and fluctuation in raw material prices. ■
