Hyundai Motor Group Achieves Record High 10% Market Share in the UK This Year

Hyundai Motor Group achieved its highest-ever performance by surpassing a 10% market share in the UK this year. Hyundai Motor Group is accelerating its market penetration with various strategies such as restructuring its lineup to focus on eco-friendly vehicles, sponsoring cultural and artistic events, and sports marketing.

According to data from the Society of Motor Manufacturers and Traders (SMMT) on the 20th, Hyundai Motor Group’s three brands?Hyundai, Kia, and Genesis?sold 173,428 passenger cars in the UK market from January to October this year, an 8.7% increase compared to the same period last year. The market share stood at 10.8%.

If the cumulative sales growth rate until October is maintained through the end of the year, Hyundai Motor Group’s UK sales this year are expected to exceed the record high of 186,625 units set in 2017. Last year’s annual sales were 181,610 units.

Hyundai Motor Group Chairman Chung Euisun (fourth from the left in the photo) and officials are taking a commemorative photo with the Ioniq 5 N, which was unveiled for the first time in the world at the Goodwood Festival in the UK last July.
[Photo by Hyundai Motor Group]

The UK automotive market is rapidly shifting towards eco-friendly vehicles. As of January to October this year, eco-friendly vehicles (electric vehicles, plug-in hybrids, hybrids) accounted for 36% of the UK passenger car market. This represents a 3.5 percentage point increase compared to the same period last year, contrasting with the shrinking share of petrol and diesel vehicles.

Hyundai Motor Group has responded to the expansion of the UK eco-friendly vehicle market by increasing its electric and hybrid lineup. Hyundai introduced the Ioniq 5 in 2021, followed by the Ioniq 6 locally the next year. In 2022, Genesis launched three electric vehicles (GV60, GV70 EV, G80 EV), and this year introduced the second-generation Kona electric vehicle. Kia also expanded its electric vehicle lineup to four models by adding the EV9 at the end of this year following the EV6 in 2021. The hybrid lineup is extensive, including models such as the Sportage, Ceed, Niro, Sportage, and Sorento.

Hyundai Motor Group’s sales of eco-friendly vehicles (BEV+HEV) in the UK from January to October this year reached 80,442 units, a 6.7% increase compared to the same period last year. During this period, electric vehicle sales increased by 4.2% to 28,456 units, while hybrid sales rose by 8.2% to 51,986 units.

Hyundai Motor Group is targeting the UK automotive market by increasing various locally tailored activities. In July, it unveiled the Ioniq 5 N, the first high-performance electric vehicle from its N brand, at the UK’s largest automotive festival, the Goodwood Festival.

In the cultural and artistic field, Hyundai Motor Group has partnered with the world-renowned UK Tate Gallery since 2014. The group supports large-scale exhibition projects at Tate Modern, the contemporary art museum under the Tate Gallery. Additionally, Genesis is expanding its presence in sports marketing by serving as the title sponsor of the European golf tournament, the Genesis Scottish Open.