|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||47.00 - 48.00|
|52 Week Range||9.50 - 71.00|
|Beta (5Y Monthly)||0.89|
|PE Ratio (TTM)||12.46|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 27, 2019|
|1y Target Est||N/A|
Hyundai Motor Company (OTC: HYMTF) has managed to evade a chip crunch that has affected other automakers worldwide. What Happened: The South Korean automaker managed to avoid the shortage by stockpiling semiconductors last year and even purchasing more towards the end of 2020, people familiar with the matter told Reuters. Like its peers, Hyundai too planned to cut production at the beginning of 2021 because of COVID-19. “But procurement read the trend of the semiconductor industry cutting auto chips production and said, ‘if we don’t buy them as well, we’ll be in trouble later on,” according to one of the people. See also: How to Buy Stocks Hyundai still purchased fewer chips last year than it did in 2020, but reportedly sharply increased purchases in the quarter ended December. Why It Matters: The purchases also allowed the Korean automaker to buy the semiconductors at lower prices, according to Kim Jin-woo, an analyst at Korea Investment & Securities, Reuters reported. Hyundai expects the chip shortage to lessen in the third quarter, while subsidiary Kia said it was prepared for the next three to six months and does not reportedly see any “immediate production disruption.” Last month, Toyota Motor Corporation (NYSE: TM) said it has enough chip inventory to last for about four months, as per Reuters. On Thursday, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk acknowledged that the automaker’s Fremont factory halted production temporarily due to a parts shortages. Chip shortages have eroded automotive earnings by one-third at both Ford Motors Company (NYSE: F) and General Motors Company (NYSE: GM), according to Bloomberg. Price Action: On Thursday, Hyundai OTC shares closed 1.21% lower at $48.15. Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. See more from BenzingaClick here for options trades from BenzingaNio, Xpeng, Li Auto CEOs Bleed B In EV Market Carnage Led By TeslaLucid Aims To Unveil Tesla Model 3 Rival By 2025: CEO© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hyundai Motor has so far avoided a chip shortage that has plagued global automakers, largely maintaining its stockpile of chips last year and even accelerating purchases towards the end, three people with knowledge of the matter said. The shortage has forced production cuts worldwide, including at Volkswagen and General Motors, prompting Germany and the United States to ramp up efforts to resolve the shortage. Other than Japan's Toyota Motor, which said this month it had enough chip inventory to last it about four months, Hyundai and its sister firm Kia Corp are the only global automakers to have maintained a stockpile of low-tech chips that helped them keep up production.
Apple Inc. (NASDAQ: AAPL) could still partner with Hyundai Motor Company (OTC: HYMTF) subsidiary Kia Corp. on electric vehicles, Reuters reported Friday — citing a South Korean online news site. What Happened: Apple and Kia have not completely canceled talks on electric vehicles following a deal signed by the two companies last year to pursue cooperation in eight sectors, including electric vehicles, according to South Korean online news site Chosun Biz. Kia shares are trading 3.1% higher at press time in Seoul. See also: How To Buy Apple Stock Bloomberg reported earlier this month that Apple plans to invest .6 billion in Kia Motors as part of a collaboration on electric vehicles, but Kia and Hyundai confirmed a few days later that the tech giant was no longer in talks with them. Why It Matters: Amid intense speculation over Apple’s potential partners on the self-driving electric vehicle, reports last month indicated the iPhone maker was in negotiations with Hyundai on a deal regarding electric vehicles. While the South Korean automaker initially confirmed the reports, it later said it was in talks with several automakers. Price Movement: Apple shares closed 3.5% lower on Thursday at $120.99 and further declined 0.2% in the after-hours session. Hyundai OTC shares closed 1.2% lower at $48.15. See Also: Apple Car: After Hyundai Fallout, Rumors Of Renault Partnership Appear See more from BenzingaClick here for options trades from BenzingaApple To Hike Dividends, Tim Cook Says© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.