South Korea's Hyundai Motor Co slightly missed analysts' profit estimates as the global chip crisis drove down vehicle shipments and it said it expects it will take a long time to get back to normal chip supplies.
Hyundai, which together with affiliate Kia Corp is among the world's top 10 automakers by sales, reported a net profit of 1.3 trillion won ($1.10 billion) for the July-September quarter.
In the same period a year earlier it posted a loss of 336 billion won when it was hit by a one-time expense related to engine quality issues and recalls.
The profit was just shy of an average analyst forecast of 1.4 trillion won compiled by Refinitiv SmartEstimate.
"Hyundai Motor expects that on-year sales growth might slow down for the rest of 2021 amid adverse business conditions caused by the unstable supply of semiconductor chips," Hyundai Motor said.
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