Seoul: Hyundai Motor Co., South Korea's leading automaker, reported on Thursday a significant decline in its fourth-quarter net profit, which fell by 52.1 percent to 1.18 trillion won (US$830.3 million) compared to the previous year. The company's operating profit for the October-December period also showed a substantial decrease, dropping 39.9 percent to 1.69 trillion won, as stated in a regulatory filing. Despite the downturn in profits, Hyundai's sales saw a marginal increase of 0.5 percent, reaching 46.83 trillion won.

According to Yonhap News Agency, the company's earnings did not align with market expectations. Analysts had anticipated a net profit of 2.35 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. This shortfall highlights the challenges faced by Hyundai Motor in meeting the financial forecasts set by industry experts.