Hyundai's Czech plant profit plunges 60% as sales and output fall

Hyundai Motor Manufacturing Czech (HMMC) reported a sharp decline in 2023 results. Net profit fell by CZK 6.42 billion to CZK 4.32 billion, a drop of almost 60 %. Revenue also decreased by CZK 28.08 billion, down 15 % to CZK 159.71 billion.

The Nošovice factory produced 276,175 vehicles, 54,715 fewer than in 2024, and plans to build 264,760 cars in 2025, with roughly half of the output expected to be electric or hybrid models. The Tucson model remained the dominant product, accounting for over three‑quarters of total production and largely exported to the United Kingdom, Germany, Spain, France and Italy.

During the year Hyundai invested in modernization, replacing 40 robots in the welding hall, upgrading paint‑shop ovens, adding a new door‑assembly line and installing a new conveyor for final inspection. A transmission hall was converted to a battery‑cell assembly line, giving the plant a current capacity of 360,000 batteries per year, set to rise to 450,000 in 2026. The Nošovice site is Hyundai’s only EU plant and employs close to 2,900 workers.