SEOUL, Oct. 30 (Xinhua) -- South Korea's biggest automaker Hyundai Motor logged a double-digit fall in its third-quarter operating profit due to the negative effect of the U.S. tariff imposition, the company said Thursday.
Hyundai's operating profit dipped 29.2 percent from a year earlier to 2.54 trillion won (1.8 billion U.S. dollars) in the July-September quarter.
Revenue swelled 8.8 percent to 46.72 trillion won (32.7 billion dollars), but net income plunged 20.5 percent to 2.55 trillion won (1.8 billion dollars).
Strong sales in the United States and Europe, as well as favorable foreign exchange rates, contributed to the highest-ever third-quarter revenue, but higher incentives and the impact of tariffs beginning to take full effect weighed on the operating profit, the company said.
Hyundai sold 1,038,353 units across the world in the third quarter, up 2.6 percent compared with the same quarter of last year.
Its domestic automotive sales rose 6.3 percent to 180,558 units, while sales outside South Korea climbed 1.9 percent to 857,795 units.
Global sales of electrified models, including hybrids, plug-in hybrids, battery electric vehicles and fuel cell electric vehicles, surged 25 percent to 252,343 units in the cited quarter. ■
