Hyundai Kia Motors Sells 73,391 Units in Europe in August... Market Share Surpasses 8%

'COVID-19 Onset' First Increase in Sales Compared to Previous Year Since April

Hyundai Motor Company Czech Factory Assembly Line (Photo by Hyundai Motor Company)

[Asia Economy Reporter Kim Ji-hee] Hyundai Kia Motors performed well last month in Europe, achieving a market share in the 8% range. Sales volume also turned to an increase compared to the previous year for the first time since the COVID-19 pandemic, raising expectations for improved performance.

According to the European Automobile Manufacturers Association (ACEA) on the 17th, Hyundai Kia Motors sold 73,391 units in Europe in August, a 3.3% increase compared to the same period last year. During this period, Hyundai Motor sales (37,471 units) decreased by 8.1%, but Kia Motors recorded 35,920 units, an 18.7% increase. Market shares in Europe were 4.2% and 4.1%, respectively, totaling 8.3%. This is a 1.7 percentage point increase compared to the same period last year (6.6%).

Accordingly, Hyundai Kia Motors’ market share in Europe from January to August this year also increased to 7.1%. In particular, Kia Motors performed well by increasing its market share (3.6%) by as much as 0.5 percentage points.

The overall sales ranking remained 4th. It is considered significant that while the top three automakers?Volkswagen Group, PSA Group, and Renault Group?all saw their market shares decline compared to the same period last year, Hyundai Kia Motors alone significantly raised its market share.

It is also notable that sales volume turned to an increase compared to the previous year for the first time since the COVID-19 impact intensified in April. The ‘Top 3’ automakers in the European car market all showed a decrease in sales volume of around 30,000 units compared to the previous year last month, still struggling to recover from the COVID-19 shock.

The improvement in Hyundai Kia Motors’ European performance is analyzed to be driven by strong sales of eco-friendly vehicles. As demand for eco-friendly vehicles has increased in Europe after COVID-19, Hyundai Kia Motors, which has strengths in eco-friendly vehicles, is also seeing its market share rise.

According to market research firm SNE Research’s survey results on this day, Hyundai Motor sold a total of 36,000 electric vehicles in the global market from January to July this year. Its ranking jumped six places from 10th in the same period last year. Kia Motors also sold more than 22,000 electric vehicles, ranking 8th in the global market.