Hyundai Mobis Q1 Net Profit Drops 14% to 883 Billion Won Amid Weaker Demand
Hyundai Mobis Co., South Korea's leading auto parts maker, reported a 14 percent decline in first-quarter net profit due to reduced vehicle sales linked to Middle East tensions. Operating profit and sales rose, supported by high-end electric components. The company plans increased R&D investment to boost overseas sales share.
prnewswire.comSEOUL — Hyundai Mobis Co. reported a 14 percent drop in first-quarter net profit on April 24, 2026, as global vehicle demand weakened amid ongoing tensions in the Middle East. 03 trillion won a year earlier, according to a regulatory filing cited by Yonhap.
"Rising external uncertainties linked to prolonged tensions in the Middle East dampened vehicle sales and parts demand," a company official stated. 68 billion won a year earlier, driven by increased supply of high-end electric components to global carmakers, Yonhap reported. 75 trillion won during the same period.
1 trillion won in research and development this year, marking a 12 percent increase from a year earlier, to strengthen competitiveness in future mobility solutions. The company generates about 90 percent of its parts sales from affiliates Hyundai Motor Co. and Kia Corp.
Hyundai Mobis aims to raise the share of overseas parts sales from 10 percent to 40 percent by 2033.
