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

Published on 10/13/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

September sales fell 16.00 percent to 307,998 vehicles. The KRW 2.41 trillion third-quarter 2026 profit forecast frames Hyundai Motor stock.

Key points in brief

Kiwoom Securities cut its Hyundai Motor target to KRW 600,000 from KRW 700,000 on October 12, 2026.
September global vehicle sales fell 16.00 percent year over year to 307,998 units.
Second-quarter 2026 revenue rose 1.90 percent to KRW 49.2 trillion, while operating profit fell 20.80 percent.
Hyundai Motor was last quoted at KRW 315,000 on the KRX on October 13, 2026.

Hyundai Motor, KR7005380001, Illustration mit AI erstellt.

Kiwoom Securities cut its target for Hyundai Motor stock from KRW 700,000 to KRW 600,000 on October 12, 2026, while retaining a Buy rating, according to Automotive News. The revised target followed September global vehicle sales of 307,998 units, down 16.00 percent from September 2025.

Three dates define the pressure

On July 23, 2026, Hyundai Motor published its second-quarter business results, with revenue of KRW 49.2 trillion and operating profit of KRW 2.85 trillion, according to Hyundai Motor. Revenue increased 1.90 percent year over year, but operating profit declined 20.80 percent and the operating margin was 5.80 percent.

September 2026 sales supplied the next warning signal, with domestic deliveries down 25.70 percent to 49,022 units and overseas sales down 13.90 percent to 258,976 units. On October 12, 2026, Kiwoom projected third-quarter revenue of KRW 43.8 trillion, operating profit of KRW 2.41 trillion and global wholesale sales of 919,000 units, down 11.50 percent year over year.

What does the sales drop mean?

The estimate points to a weaker third quarter than the record second-quarter revenue figure. The operating-profit forecast is also below the KRW 2.85 trillion achieved in the second quarter, a comparison that puts margin recovery ahead of simple volume growth.

Strike-related production disruption is the immediate counter-factor. Chosunbiz reported on October 12, 2026 that KB Securities estimated third-quarter operating profit at KRW 2.555 trillion, down 10.40 percent from the previous quarter and 16.00 percent below consensus. The same estimate put global shipments excluding China at 909,000 units, down 9.70 percent year over year.

KRX valuation keeps the range wide

Hyundai Motor was last at KRW 315,000 on the KRX on October 13, 2026 at 3:30 p.m. KST. The market capitalization was KRW 63.8 trillion, while the 52-week range stood at KRW 218,000 to KRW 783,000 as of October 13, 2026.

The further course of trading is shown through the latest KRX quote and the next earnings update.