SEOUL -South Korea's Hyundai Motor Co raised its full-year revenue and profit margin guidance on Monday, betting on strong sales of luxury models and sport utility vehicles and a plunge in the local currency after a lacklustre third quarter.
"While Hyundai Motor expects a gradual recovery from global chip and component shortages in the fourth quarter, the company anticipates external uncertainties to continue, including inflation, supply chain disruption and fluctuation in raw material prices due to geopolitical issues," it cautioned in a statement.
Hyundai, which together with affiliate Kia Corp is the among the world's top five automakers by sales, said third-quarter operating profit fell by 3 per cent due to a 1.36 trillion won provision to pay for costs related to engine quality issues.
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