Hyundai Motor and Kia Make Waves in Europe, Surpassing 11% Market Share for the First Time

Significant Sales Growth of Cars in Europe, the Birthplace of Automobiles
Eco-Friendly Vehicles Perform Well in Major European Markets like Germany and the UK

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company and Kia have made significant advances in the European market, the birthplace of automobiles. By focusing on eco-friendly vehicles such as electric and hybrid cars, they have surpassed an 11% market share for the first time. They are fiercely competing with prominent local automakers like Volkswagen, Renault, and BMW.

According to Hyundai Motor Group on the 19th, as of last month, the combined market share of Hyundai and Kia in the European automobile market was approximately 11.1%. This ranks third overall, following Volkswagen Group at 21.3% and Stellantis at 18.4%. Renault Group follows Hyundai with 9.9%, BMW at 7%, and Toyota at 6.8%.

This is the first time Hyundai Motor Group’s market share in Europe has exceeded 11%. It has held third place for two consecutive months, including last month. The market share was 7.8% in the same month last year, marking an increase of more than 3 percentage points (p) in one year. On an annual basis, the market share rose to 8.4%, up 1.2%p from 7.2% in the previous year.

Hyundai Ioniq 5

Hyundai and Kia’s Eco-Friendly Vehicles Gain Great Popularity in Germany and the UK, Europe’s Largest Markets

The strong performance of Hyundai and Kia in the European market is attributed to the high popularity of eco-friendly new cars in Europe’s largest automobile markets, Germany and the UK.

According to the German Association of the Automotive Industry (VDIK), Hyundai and Kia sold 79,773 Hyundai vehicles and 49,484 Kia vehicles in Germany, Europe’s largest market, through September this year, increasing sales by 10.9% and 5.4% respectively compared to the same period last year. The combined sales volume was 129,257 units, an 8.7% increase from the same period last year.

In terms of monthly sales for September, Hyundai sold 10,359 units, ranking fifth in Germany behind Volkswagen (31,002 units), BMW (16,487 units), Mercedes-Benz (13,734 units), and Opel (13,222 units). This is a rise of five places from tenth in the same month last year.

Hyundai and Kia’s strong performance in the German market is the result of building a leading eco-friendly brand image and implementing locally tailored strategies. In line with the German government’s eco-friendly vehicle promotion policies, Hyundai and Kia launched numerous new eco-friendly models this year, including the electric Ioniq 5 and EV6, as well as plug-in hybrid electric vehicles (PHEVs) such as the Tucson PHEV, Santa Fe PHEV, and Sorento PHEV.

Hyundai, which introduced the Ioniq 5, doubled its electric vehicle sales in Germany from 8,443 units in the first three quarters of last year to 18,935 units in the same period this year, a 124.3% increase, strengthening its position as a leading electric vehicle company. Kia expanded its electric vehicle sales by 53.5% through the Soul EV and Niro EV models up to the third quarter and is preparing for the full-scale launch of the EV6.

Strengthening Dedicated Electric Vehicle Lineup with Ioniq 5, EV6, and More

In the UK, Europe’s second-largest automobile market and another traditional automotive powerhouse, Hyundai and Kia’s sales growth was also remarkable.

According to the Society of Motor Manufacturers and Traders (SMMT), Hyundai sold 52,931 units in the first three quarters of this year, a 39.9% increase compared to the same period last year, while Kia sold 74,096 units, up 29.6% during the same period. The combined sales volume was 127,027 units, a 33.7% increase from the previous year.

Kia EV6

The combined sales volume of Hyundai and Kia exceeded Volkswagen’s individual sales of 121,286 units (9.21% market share), which ranked first in the UK market for the first three quarters of this year. Kia also ranked second in UK sales in September with a market share of 7.74%, following Toyota.

The strong sales in the UK are driven by key new models such as the new Tucson, Ioniq 5, Sorento, and eco-friendly vehicles like the Niro EV.

Notably, new models have swept prestigious awards hosted by local automotive magazines and organizations, including Tucson being named ‘Carbuyer Car of the Year,’ Ioniq 5 winning four categories including ‘Auto Express Car of the Year,’ and Sorento winning the ‘What Car? Tow Car Award’ overall championship, which has boosted sales momentum.

Hyundai and Kia plan to continue both quantitative and qualitative growth in Europe by capitalizing on this momentum.

A company representative emphasized, “We will actively expand sales of the Ioniq 5 and EV6, which are based on the dedicated electric vehicle platform E-GMP, in Europe. We also plan to launch new electric vehicles such as the Genesis GV60, the first dedicated electric vehicle from the luxury brand Genesis in Europe, and electrified versions of the G80, continuing our transition to an electrified brand and enhancing our image as a leading eco-friendly vehicle company.”