[Edaily Reporter LEE YUNHWA ] "The factor that had the greatest impact on second-quarter earnings was a supply disruption from parts suppliers. A fire at Safety Industry caused production disruptions for certain vehicle models, including the Genesis, and a fire at a parts supplier that provides engine valves to the company’s largest domestic production base led to a temporary halt in production of major volume models and Genesis vehicles. The company took measures to minimize production disruptions, such as shifting production to other models, and completed the development and implementation of replacements for all engine valves in May. However, since most of the vehicles affected by the production disruptions were high-value-added models such as the Genesis, the model mix deteriorated, which had a negative impact on second-quarter operating profit. In addition, HyundaiMotor India (HMI) also experienced temporary production disruptions due to the fire at the HyundaiMobis plant in India. To minimize the impact of domestic production disruptions, HyundaiMotor made maximum use of its inventory in the second quarter and expects to recover a significant portion of the lost volume by expanding production in the second half of the year."
… HyundaiMotor(005380) ’s second-quarter earnings call on the 23rd
HyundaiMotor’s headquarters in Yangjae-dong, Seoul. (Photo: HyundaiMotor)
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