Hyundai Reports Record Q2 Profits, Plans Hybrid Expansion Amid EV Market Uncertainty

The automaker's strong U.S. sales and strategic shift towards hybrids aim to counter potential policy changes and fluctuating EV demand.

Hyundai's net profit for Q2 2024 reached $2.9 billion, a 23% increase from the previous year.
High-margin SUV and hybrid vehicle sales in the U.S. contributed significantly to the profit surge.
The company plans to expand its hybrid lineup in response to potential changes in U.S. electric vehicle policies.
Despite a 24.7% drop in EV sales, Hyundai remains committed to long-term EV growth, including new models like the IONIQ 9.
Hyundai's favorable exchange rate and improved selling prices also boosted its quarterly performance.