Seoul, South Korea – Hyundai Motor Group, the world's third-largest automaker, has significantly outperformed Volkswagen in both Q3 and year-to-date operating profits, positioning itself to potentially overtake Volkswagen as the world's second-most profitable automaker.

According to industry sources, Hyundai Motor Group, which includes Hyundai, Kia, and Genesis, reported a revenue of 69.4481 trillion won (approximately US$52.2 billion) and an operating profit of 6.4622 trillion won (approximately US$4.86 billion) in the third quarter. For the first nine months of the year, the group posted a revenue of 208.9081 trillion won (approximately US$157.5 billion) and an operating profit of 21.3681 trillion won (approximately US$16.1 billion).

Hyundai Motor Group ranked second in terms of operating profit, trailing only Toyota in both the third quarter and year-to-date. Notably, the group significantly outperformed Volkswagen, the world's second-largest automaker.

Volkswagen reported a revenue of €78.5 billion (approximately US$118 billion) and an operating profit of €2.86 billion (approximately US$4.3 billion) in the third quarter. For the first nine months, the company recorded a revenue of €237.279 billion (approximately US$355.8 billion) and an operating profit of €12.97 billion (approximately US$19.4 billion). Considering the impact of warranty provisions on Hyundai Motor Group's third-quarter operating profit, industry analysts believe Volkswagen's underperformance is even more severe than expected.

Industry experts predict that if the current trend continues in the fourth quarter, Hyundai Motor Group is likely to surpass Volkswagen in terms of profitability this year, securing the second spot in the global automotive market.

[ⓒ Global Economic Times. 무단전재-재배포 금지]