Hyundai Motor CEO Jose Munoz is under pressure as the company’s record sales have not translated into stronger profits. Under his leadership, second-quarter sales rose 1.9 percent to 49.22 trillion won, but operating profit fell 20.8 percent to 2.85 trillion won. The company is also facing a more expensive operating environment as it invests heavily in EVs, hybrids, software-defined vehicles, AI and robotics. Hyundai is expanding U.S. localization and hybrid production to reduce tariff exposure.
Hyundai Motor CEO Jose Munoz listens to questions from reporters during a press conference at Conrad Seoul, Wednesday. Yonhap
The leadership of Hyundai Motor CEO Jose Munoz is facing a critical test, as the automaker struggles to turn its outward sales growth into sustainable profitability.
Munoz joined the carmaker in 2019 as president and global chief operating officer in charge of Hyundai Motor and Genesis in North America.
His performance in the region, where he oversaw consecutive sales records and improved profitability and market share, helped pave the way for his promotion to serve as the carmaker’s global CEO in January 2025 — the first non-Korean to lead the Korean automaker.
