It’s no secret that the automotive industry has endured some turbulent years: chip shortages, price volatility and a rapid shift to clean technology are just some of the challenges the sector continues to face.

Amid the uncertainty, Hyundai Motors 005380 -1.09% , seems to be dealing with the shocks. It recently became the world’s third-largest car company and is posting record growth. But new headwinds are emerging, including those stemming from the Inflation Reduction Act.