Hyundai cuts 2026 wholesale sales target to 4 million vehicles
Key Facts
Hyundai Motor cut its 2026 wholesale sales and operating margin targets after revenue and sales fell in the third quarter under pressure from production disruptions and weak global demand. The company set its wholesale sales target at 4 million vehicles, compared with 4.16 million previously, and lowered its target operating margin range to 5.5–6.5% from 6.3–7.3%. It said in a statement that the revised outlook takes into account weak global demand, production disruptions and higher raw material prices. Revenue totaled 45.11 trillion won in the July-to-September period, down 3.4% year on year. The company said lower production increases its fixed costs.
Global wholesale sales fell 11.3% year on year to 920,710 vehicles in the third quarter. Hyundai attributed the decline to production constraints and fewer working days, which limited the number of vehicles it could deliver to dealers. In South Korea, sales fell 27.2% to 131,468 vehicles, and the company said strikes affected domestic production. Sales outside Korea totaled 789,242 vehicles, down 8% year on year. The divergence between the two markets shows that domestic production disruptions coincided with a broader decline in overseas sales.
Alongside revising its sales and profitability targets, the company cut its 2026 investment plan for the automotive sector to 16 trillion won from 17.8 trillion. It said the adjustment followed a review of investment priorities and execution timelines. The decision puts planned spending below the previous plan, alongside a recalibration of full-year performance expectations. The company did not directly link the investment plan cut to lower sales, attributing it instead to a review of priorities and execution timing. The move is part of the adjustments it announced alongside its updated annual guidance.
Hyundai announced a third-quarter dividend of 2,500 won per common share. It set November 30, 2026, as the record date, with payment scheduled for December 30, 2026. The company thus coupled its results and revised guidance with a set date for distributing cash returns to shareholders. The dividend applies to common shares, according to the Hyundai Motor Group announcement. The payment date falls one month after the specified record date.
The company said it will focus in the fourth quarter on increasing production and expanding sales of new models, including the all-new Tucson and Elantra. It added that it will continue to improve its cost structure. These priorities tie its plan for the coming period to expanding production and sales of new models, alongside work on costs. The company did not specify production or sales targets for these models during the fourth quarter.