"Stay steady and focus on execution"... The background behind the 'message' sent by Hyundai Motor CEO right after earnings announcement

Jose Munoz, President and CEO of Hyundai Motor, is reported to have sent a message to all employees on the 30th of last month, the day immediately following this year's third-quarter earnings announcement, conveying the meaning of "Do not be shaken by sluggish results; focus on enhancing competitiveness."

Munoz, who was appointed as Hyundai Motor's first foreign CEO (Chief Executive Officer) in November 2024, has actually shared messages with employees through emails and other channels from time to time over the past two years. He has primarily used events such as earnings announcements, new car launches, and holidays as opportunities to share business directions and strengthen internal cohesion.

Notably, in an email titled "Our Goals and Directions for 2026" sent last February, he shared the New Year's business plan. In particular, he drew attention by emphasizing a structural overhaul of local operations in China, stating, "We will pursue the restructuring of our China business and expand production capacity in India." Last September, to mark the Chuseok holiday, he encouraged employees via social media (SNS), saying, "The automotive industry is undergoing greater change than ever before," and "Even in this situation, you have continuously striven to create better products and services, keeping your promises to customers."

Hyundai Motor insiders reacted that the message sent this time was more in the nature of 'encouragement' rather than a 'reprimand' for somewhat low performance. In this regard, Munoz mentioned achievements such as △the largest third-quarter sales record and highest-ever market share attainment in the U.S., and △record monthly sales in India in September, emphasizing, "This was possible thanks to employees who have worked hard to stabilize supply chains and logistics." He also stated regarding the resumption of normal factory operations in September and the start of operations at the new Pune plant in India, "We have once again confirmed that our competitiveness ultimately comes from people."

However, he did not forget to urge employees to do their best in 'controllable areas' such as quality improvement and new car launches, even amid difficult external conditions. This reaffirmed the fact that Hyundai Motor's growth ultimately depends on product competitiveness. Munoz's request that "Hyundai Motor's mid-term strategy is being pursued as planned," asking employees not to be shaken by recent sluggish results but to faithfully perform their assigned duties, is in the same context.