SEOUL -- Hyundai Motor said on Tuesday that a lack of computer chips for its vehicles will further disrupt production in the fourth quarter and into next year, casting a shadow over the South Korean car giant's global sales.

Hyundai, which forms the world's fifth-largest automaker in tandem with affiliate Kia Motors, said that sales of its cars tumbled 9.9% to 899,000 vehicles in the July-September period from a year ago, driven by sharp drops in the U.S., South Korea, India and China. Those came because the company was struggling to secure key computer chips used in production amid a global shortage that is also affecting other vehicle manufacturers.

"We forecast supply setbacks will continue through the fourth quarter, and some problems will continue next year," a Hyundai executive said during its third-quarter earnings conference call. "We were forced to stop some of our operations."

The announcement comes as Hyundai posted worse-than-expected earnings in the third quarter due to chip problems. Its operating profit reached 1.6 trillion won ($1.4 billion) for the three months through September, turning into the black from a 314 billion won loss a year ago when the company set aside more than 2 trillion won of provisions for recalls. But operating profit was down 14.8% compared with the second quarter.

Revenue increased 4.7% to 28.9 trillion won in the third quarter year-on-year, but declined 4.8% from the previous quarter. The company recorded a net profit of 1.5 trillion won after a 189 billion won net loss in the same period last year, but sank 25% from the three months ended June 30.

"Hyundai Motor expects on-year sales growth might slow for the rest of 2021 amid adverse business conditions caused by the unstable supply of semiconductor chips as well as a potential unfavorable shift in the currency environment," Hyundai said in a statement. "However, the company will continue to proactively manage these issues."

The automaker said that weakening currencies in key emerging markets cost it 343 billion won in operating profit in the third quarter compared to the previous year. Currency weakness in those locations can reduce the value of Hyundai's sales and profits when converted into Korean won.

Hyundai cut its annual sales target to 4 million vehicles from 4.16 million due to the disruptions. It also revised down its investment plan to 8 trillion won this year from 8.9 trillion won.

But investors appeared undeterred, sending Hyundai shares 1.18% higher to close at 213,500 won.