Q1 2024 Hyundai Motor Co Earnings Call Transcript
Hello. This is Michael Yun, Head of Investor Relations team. I would like to add we have Senior Vice President, Zayong Koo; Seung Jo Lee; and also, we also have Hyung Seok Lee from Hyundai Capital as well. Welcome, everyone, to Hyundai Motor Company's 2024 Q1 business results conference call.
On behalf of Hyundai Motor Company, I appreciate your time for participating in today's call. Please refer to the presentation HMC 2024 Q1 business results on our IR website. Today's presentation consists of two parts, sales summary and financial summary. For more information, please refer to the appendix page.
First part is sales summary. Our 2024 Q1 global wholesale decreased by 1.5% year on year to 1,006,767 units, while retail sales decreased by 4% year on year to 946,870 units. In the first quarter, wholesale decreased slightly compared to the previous year. However, sales momentum continued in markets such as North America and India, where our profitability is solid.
In the domestic market, sales decreased by 16.3%
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