Soohong Cho

The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed. Sales growth to slow at HMG in 2024 In 2024, an earnings growth slowdown is largely expected for HMG. The company has set a global wholesale target of 7.443mn units (+1.9% y-y) and domestic sales target of 1.234mn units (-7.1% y-y), reflecting more conservative assumptions than our projections. Overseas sales are forecast to grow solidly to 6.209mn units (+3.9% y-y).

The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed. In 2024, global automotive demand should continue to recover, but growth momentum is set to slow y-y. Although demand has yet to return to pre-pandemic levels (95mn units), a significant portion of accumulated pent-up demand from during the pandemic has been unleashed in 2023.