HYUNDAI MOTOR CO. SW 5000

Hyundai increased operating profit in the third quarter by 5.5% to 2.68 trillion won, while revenue fell to 45.1 trillion won. The drivers were strong sales in North America and gains in India, particularly for hybrid models like the Santa Fe and Sonata, fueled by higher fuel prices. These increases offset declines in Europe and China as well as margin pressure from a stronger won; the stock in Seoul most recently rose 0.8%. » Altro su finanzen.net

Hyundai is recalling 94,622 Genesis and Genesis G80 sedans (model years 2015–2020) after a faulty seat adjustment switch can become dislodged or damaged, causing the seat motor to run continuously, overheat and potentially ignite. The NHTSA warned owners to park affected vehicles outside until Hyundai issues a repair; the company is still developing a full remedy. U.S. authorities say at least two related vehicle fires have been reported and similar thermal allegations have been received from Korea. » Altro su forbes.com

Hyundai CEO José Muñoz warned Chinese imports could flood the US without protections but said the company is not developing China-specific strategies. He advocates a 'level playing field' and pointed to vertical integration — including a $5.8 billion US green steel investment and battery joint ventures — to cut costs and improve competitiveness. Muñoz also noted Hyundai’s continued EV and hybrid push in the US amid slower national EV adoption compared with Europe and China. » Altro su theverge.com