Hyundai Motor: record group profit but Auto declines

Hyundai Motor Company's wholesales (excluding non-consolidated Chinese joint ventures) rose 2.2% in Q2 2024 to 1.02 million units. Domestic sales fell by 9.7%, reflecting high interest rates and weak consumer sentiment as well as an increase in average transaction prices. Sales also fell by 5.4% in Europe but these declines were more than offset by rises of 15.2% in North America, the company's biggest market, and 2.8% in other markets. Sales in China fell by 42% to 35,000 units.