Hyundai Turns China Setback Into Global Success

Hyundai is now edging closer to becoming the world’s second-most profitable automaker, second only to Toyota.

New Hyundai cars are displayed on the sales lot at San Leandro Hyundai in San Leandro, Calif., on May 30, 2023. Justin Sullivan/Getty Images

News Analysis

Hyundai Motor’s sales in China have plummeted since 2016 due to a diplomatic dispute between Beijing and South Korea. What initially seemed like a significant blow ultimately meant Hyundai became less reliant on China and expanded its presence in the global market.