Hyundai and Kia are estimated to report an operating profit of 4.28 trillion won and 3.76 trillion won, respectively, in the three months ended in June, according to a Yonhap Infomax survey of local brokerages.
Hyundai and Kia's second-quarter operating income likely rose 1 per cent and 11 per cent, respectively, from the same period of last year, the survey showed.
The carmakers' timely response to the electric vehicle "chasm", their focus on high-end sport utility vehicles, such as the GV80, particularly in the US market, and a weak won likely helped the quarterly bottom line, analysts said.
The dollar rose to an average of 1,370.91 won in the June quarter from 1,314.68 won a year earlier, according to data from the Bank of Korea.
A weak won drives up an exporter's dollar-denominated income when converted into the local currency.
The two carmakers began to strengthen their gasoline hybrid model lineup early this year as the global EV market entered a stagnation phase, known as the chasm, which occurred before the widespread adoption of EVs. Hyundai's sales are forecast to rise 4 per cent on-year to 43.99 trillion won, while Kia's are projected to increase 5.6 per cent to 27.7 trillion won during the same period.
