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The sales figure represents a 4 percent increase from the same period last year, while operating profit is forecast to reach 6.89 trillion won, down 1.3 percent year-on-year. Hyundai Motor alone is expected to post first-quarter provisional sales of 43.36 trillion won and operating profit of 3.62 trillion won, up 6.6 percent and 1.7 percent respectively compared to the same period last year. Kia's sales and operating profit are projected at 27.67 trillion won and 3.27 trillion won.
The strong first-quarter performance is attributed to increased sales of high-profit vehicles such as SUVs and hybrid models, combined with favorable exchange rates. In the United States, consumers rushed to purchase new vehicles before Trump's tariffs on specific automotive products took effect on April 3, significantly boosting March sales. Hyundai and Kia's combined U.S. sales for the first quarter reached 419,912 units, a 10.7 percent increase year-on-year, with March sales hitting a record 172,669 units, accounting for nearly half of the quarterly total.
The automotive industry is closely watching how performance will evolve from the second quarter when the impact of U.S. tariffs becomes fully apparent. Securities analysts estimate that Hyundai and Kia could face annual operating losses of 6 trillion won and 4 trillion won respectively due to the 25 percent tariff on imported vehicles, representing approximately 40 percent of Hyundai's and 36 percent of Kia's operating profits from last year.
However, the companies have some cushion against cost increases due to the stronger dollar. The average exchange rate for 2025 (1,465 won) is 7.3 percent higher than 2024's average (1,365 won). For every 100 won increase in the dollar exchange rate, Hyundai is estimated to gain 2.5 trillion won in profits while Kia could see 4 trillion won. According to securities industry analysis, this could offset approximately 40 percent of Hyundai's and 80 percent of Kia's cost pressures from tariffs.
"The true crisis response capabilities of global automakers will be revealed from the second quarter when the effects of U.S. tariffs fully materialize," said Lim Eun-young, an analyst at Samsung Securities. "With more than 60 percent of their operating profits dependent on the United States, and expected intensified competition with Chinese electric vehicles in other regions this year, the group's fate hinges on its response to the U.S. situation."
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