Hyundai Q4 operating profit weighed down by slow EV growth

SEOUL -- Hyundai Motor eked out a gain in operating profit in the fourth quarter of 2023 from the same period the year before as electric vehicle (EV) sales slowed and unfavorable foreign exchange rates weighed on results. 

Hyundai said on Thursday that operating profit reached 3.4 trillion won ($2.5 billion) for the three months through December, a gain of 0.2% from the same period in 2022. Revenue rose 8.3% to 41.7 trillion won during the same period.