Hyundai Motor Company is expected to witness minus growth for the first time in 18 years.
 
According to automobile industries on Thursday, Hyundai Motor’s third quarter performance is likely to be the lowest quarterly result to be recorded since 2010 when the application of International Financial Reporting Standards became mandatory.
 
Hyundai is set to issue its earnings report for the third quarter around October 27th.
 
Hyundai Motor and its smaller affiliate, Kia Motors Corporation, saw their combined sales both at home and abroad amount to some five-point-62 million units between January and September of this year. That’s down one-point-eight percent from the same period last year.
 
If the trend continues, Hyundai Motor’s sales for this year are likely to fall short of the eight million posted last year. If that happens, the conglomerate would be posting minus growth for the first time since 1998 when the nation was hit by the Asian financial crisis.
 
Hyundai and Kia first saw their combined sales top two million in 1999. Their sales then surged to five-point-74 million in 2010, to seven-point-one million in 2012 and to eight million in 2014.