Kiwoom cuts target for Hyundai Motor stock to KRW 600,000

Published on 10/12/2026 at 09:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hyundai sold 307,998 vehicles in September, down 16.00 percent year over year. Kiwoom forecasts KRW 2.41 trillion Q3 profit for Hyundai Motor stock.

Key points in brief

Kiwoom Securities cut its Hyundai Motor target from KRW 700,000 to KRW 600,000 on October 12, 2026, while keeping a Buy rating.
Hyundai Motor sold 307,998 vehicles globally in September 2026, down 16.00 percent from a year earlier.
Second-quarter 2026 revenue reached KRW 49.2 trillion, while operating profit was KRW 2.85 trillion.
Hyundai Motor was last quoted at KRW 320,000 on KOSPI on October 12, 2026.

Hyundai Motor, KR7005380001, Illustration mit AI erstellt.

Hyundai Motor (ISIN KR7005380001) had its target cut by Kiwoom Securities from KRW 700,000 to KRW 600,000 on October 12, 2026, while the firm kept its Buy rating, according to Aju Press. The downgrade reflects production disruption from domestic strikes and weaker expected sales.

September sales fell 16.00 percent

Hyundai Motor sold 307,998 vehicles worldwide in September 2026, down 16.00 percent from September 2025. The company's domestic sales fell 25.70 percent to 49,022 units, while overseas sales declined 13.90 percent to 258,976 units, according to Hyundai Motor on October 1, 2026.

The monthly comparison contains one counterpoint: total sales increased 5.50 percent from August, when production was affected by strikes. The year-to-date total through September stood at 2,886,763 vehicles, down 7.00 percent from the same period of 2025.

What does the forecast mean for earnings?

Kiwoom Securities forecasts third-quarter 2026 revenue of KRW 43.8 trillion and operating profit of KRW 2.41 trillion, with global wholesale sales projected at 919,000 units, down 11.50 percent year over year, according to Aju Press. The estimates put the pressure on volume and profitability ahead of the results period.

For comparison, Hyundai Motor reported revenue of KRW 49.2 trillion in the second quarter of 2026, up 1.90 percent year over year, while operating profit fell 20.80 percent to KRW 2.85 trillion. The figures and a 5.80 percent operating margin are reported by ATS View.

Three dated signals for Hyundai

On July 23, 2026, second-quarter revenue reached KRW 49.2 trillion and operating profit was KRW 2.85 trillion, according to ATS View. On October 1, 2026, global September sales totaled 307,998 vehicles, down 16.00 percent year over year, according to Hyundai Motor. On October 12, 2026, Kiwoom Securities lowered its target to KRW 600,000 from KRW 700,000, according to Aju Press.

Stock valuation meets weaker forecasts

Hyundai Motor was last quoted at KRW 320,000 on KOSPI on October 12, 2026 at 3:30 p.m. KST. The combination of a lower target and a 16.00 percent September sales decline puts the third-quarter operating forecast at the center of the stock story, while the maintained Buy rating points to the importance of longer-term hybrid and mobility expectations.