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Hyundai Motor's Q3 net profit misses estimates, chip shortage takes a toll

The profit was just shy of an average analyst forecast of 1.4 trillion won compiled by Refinitiv SmartEstimate

Hyundai Motor
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The Hyundai booth displays the company logo at the North American International Auto Show in Detroit, Michigan, US | Photo: Reuters

Reuters
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

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