Hyundai motors profit halved to lowest level since 2010

According to recent reports, Hyundai Motor Company's profit has halved to its lowest level since 2010. Here are some key points from the article:

• Hyundai Motor's net profit fell to 1.13 trillion won ($970 million) in the second quarter, down 52% from the same period last year.
• This is the lowest quarterly profit since 2010, when the company was struggling with a global financial crisis.
• The decline in profit was attributed to a combination of factors, including a decline in global auto sales, increased competition, and a surge in raw material costs.
• Hyundai's operating profit also fell 44% to 1.43 trillion won ($1.22 billion), the lowest level since 2011.
• The company's revenue fell 4.5% to 24.4 trillion won ($20.8 billion), the first decline in three years.
• Hyundai's global sales fell 3.5% to 2.45 million vehicles in the second quarter, due to a decline in sales in key markets such as the US and China.
• The company's profit margin also fell to 4.6%, the lowest level since 2013.

This decline in profit is a significant challenge for Hyundai, which is one of the world's largest automakers. The company has been facing intense competition in the global market, particularly from Chinese automakers, and has been struggling to maintain its market share.

To address this challenge, Hyundai has been focusing on improving its product lineup, investing in electric and autonomous vehicle technology, and expanding its presence in emerging markets. The company has also been working to reduce costs and improve its operational efficiency.

However, the decline in profit is likely to put pressure on Hyundai's management to take further action to improve the company's financial performance. The company may need to consider cost-cutting measures, such as reducing its workforce or closing underperforming plants, to improve its profitability.