While the European Car Market Size Decreased by 1.5%, Hyundai and Kia Sales Increased
[Asia Economy Reporter Ki-min Lee] Hyundai Motor and Kia achieved a record high market share of 8.7% in the European finished car market last year. Despite a decline in car sales in the European market, Hyundai Motor surpassed 1 million units, reclaiming its 4th place in European sales market share, which it had lost in 2020.
According to the European Automobile Manufacturers Association (ACEA) on the 18th, Hyundai Motor and Kia sold 1,018,563 units in Europe last year, an increase of 21.1% compared to 2020. Hyundai Motor and Kia sold 515,886 and 502,677 units respectively, up 21.6% and 20.6% from the previous year, surpassing 1 million units in sales for the first time in two years since 2019 (1,065,227 units).
While the overall European market size (11,774,885 units) decreased by 1.5% year-on-year due to the shortage of vehicle semiconductors, Hyundai Motor and Kia's sales volume increased, resulting in a market share of 4.4% and 4.3%, up 0.8% each.
In particular, Hyundai Motor and Kia, which first exceeded a combined market share of 7% in 2020, achieved a record high annual market share of 8.7%, an increase of 1.7 percentage points in one year. The market share ranking was ▲Volkswagen (25.0%) ▲Stellantis (20.2%) ▲Renault Group (9.3%) followed by 4th place. BMW, which surpassed Hyundai Motor and Kia last year, recorded a market share of 7.3%, falling to 5th place.
The vehicles that led Hyundai Motor's sales in Europe last year were Tucson (147,979 units), Kona (109,570 units), i20 (61,972 units), i30 (57,290 units), and i10 (56,462 units) in order. For Kia, the most sold models were Ceed (134,908 units), Niro (89,261 units), Sportage (89,258 units), Morning (60,465 units), and Stonic (58,425 units).
Among Hyundai Motor and Kia's major eco-friendly models, Kia Niro sold 89,261 units as an electric vehicle (EV), and Hyundai Motor's Kona and Tucson sold 69,615 units and 60,800 units respectively.
During the same period, Hyundai Motor and Kia's electric vehicles, including Kona Electric, Ioniq Electric, Ioniq 5, Soul, Niro, and EV6, recorded a record high sales volume of 135,408 units. This represents a 41.2% increase compared to the same period last year. The main electric vehicle sales models of Hyundai Motor and Kia were Kia Niro EV (47,306 units), Hyundai Motor Kona (43,979 units), Hyundai Motor Ioniq 5 (19,219 units), Hyundai Motor Ioniq Electric (8,791 units), Kia Soul EV (8,087 units), and Kia EV6 (8,026 units) in order.
Meanwhile, in December last year, while the overall European market size recorded 952,180 units, down 21.7% compared to the same period last year, Hyundai Motor and Kia's sales volume increased by 1% to 74,848 units, recording a market share of 7.9%. Hyundai Motor's sales volume decreased by 2.7% compared to December 2020 to 42,750 units, whereas Kia sold 32,098 units, up 6.4%. However, the two companies' market shares in the European market in December last year increased by 0.9 percentage points each to 4.5% and 3.4%, respectively.
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