Hyundai Motor Co., South Korea’s biggest automaker, posted operating profit that missed estimates after labor strikes hurt production at home and incentive spending in the U.S. increased. Operating profit fell to 1.02 trillion won ($875 million) in the three months ended Dec. 31, down from 1.52 trillion won a year earlier, the Seoul-based company said Wednesday. That compares with the 1.45 trillion won average of 20 analysts’ estimates compiled by Bloomberg. Hyundai Motor’s deliveries in South Korea plunged in the quarter after a series of partial stoppages escalated into a full-scale strike in September and the expiry of a tax cut damped demand. The automaker’s spending on incentives in the U.S., its second-biggest market, increased at a faster pace than the industry average, according to researcher Autodata Corp. Hyundai and affiliate Kia Motors Corp. have forecast a rebound in sales this year as they count on new factories in China and Mexico to boost output. Those projections were made before U.S. President Donald Trump assumed office. Since his inauguration, Trump has withdrawn the U.S. from the Trans-Pacific Partnership trade accord, reaffirmed a campaign promise to renegotiate the North American Free Trade Agreement involving Mexico and met with automakers to persuade them to keep production within the U.S. Hyundai and Kia this month joined a growing list of automakers announcing investments in the U.S. as they answer to pressure from Trump to create jobs. The automaker’s incentive spending in the U.S. climbed 31 percent last month from a year earlier, compared with the average 23 percent increase for the industry, according to Autodata.