Hyundai Motor Co (HYMLF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, this is Michael Yoon, the head of IR Group. Welcome to Hyundai Motor Company's 2025 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 titled HMC 2025 Q1 Business Results on our IR website. This presentation includes sales performance and profit analysis. And for a summary of quarterly cash flow statement and detailed regional sales breakdowns, please refer to the appendix. First, the sales performance. For your reference, starting from this quarter, we have slightly adjusted the scope of disclosed sales performance data, taking into consideration factors such as the increased significance of the U.S. market and our major business regions. In Q1 of 2025, the global wholesale recorded 1,001,120 units, down 0.6% year over year, while global retail sales totaled 956,354 units, an increase of 1.0% year over year. Although the global wholesale slightly declined year over year, wholesale, excluding China, rose by 1.3% year over year. In the U.S. market, the market continued its steady sales momentum driven by hybrid models showing a year-over-year increase of 1.1%. Notably, retail sales experienced robust growth, rising 10.8% year-over-year. In particular, hybrid model sales increased 43.0% year-over-year, led by sales expansion of SUVs such as the Tucson and the Santa Fe. Additionally, with emerging discussions of potential changes in EV-related policies, EV sales also grew 16.8% year over year. In the European market, the total sales volume decreased by 3.8% year over year amid weakening industry demand caused by a slowdown in economic recovery. However, the planned mixed shift towards eco-friendly vehicles is progressing steadily, as evidenced by a 61....