Chinese Automakers Overtake Hyundai and Kia in Europe
Hyundai Motor’s European sales decreased by double digits this year. The combined market share of three Chinese automakers surpassed that of Hyundai Motor and Kia.According to the European Automobile Manufacturers’ Association (ACEA) on Oct. 22, Hyundai Motor and Kia sold 770,795 units in Europe fro
This year, three Chinese automakers outpaced Hyundai Motor and Kia in European sales. According to the European Automobile Manufacturers' Association (ACEA), from January to September, Hyundai Motor and Kia sold 770,795 units combined, a 3.4% decline compared to the previous year. In contrast, the overall European market expanded by 6.3% to 10,555,351 units.
Market share fell by 0.7 percentage points to 7.3%. Hyundai Motor's sales dropped by 13.2% to 348,928 units, while Kia increased by 6.6% to 421,867 units, maintaining a 4.0% market share. Last year, Hyundai Motor sold more units than Kia, but this year Kia led with 72,939 more units. The September figures reflect the same pattern.
The UK and EFTA regions saw significant declines for both companies, with Hyundai Motor sales decreasing by 17.5% to 39,821 units and Kia increasing by 13.7% to 56,437 units. In September, the UK and EFTA regions saw a 32.0% decrease in Hyundai Motor sales. Chinese automakers, led by BYD, Chery Automobile, and SAIC Motor, experienced rapid growth.
BYD sales surged 134.6% to 283,997 units, Chery increased 255.9% to 260,650 units, and SAIC Motor grew 20.3% to 272,251 units. Combined, these three companies accounted for 816,898 units, representing a 7.7% market share and surpassing Hyundai Motor and Kia. This represents nearly double the combined sales from the same period last year (420,663 units).
September saw BYD, Chery, and SAIC out-selling Hyundai Motor. With Europe's quickening electrification, pure electric vehicle registrations grew by 41.9% to 2,549,810 units in the EU, EFTA, and UK from January to September. Plug-in hybrid electric vehicles (PHEVs) rose by 22.4%, and hybrids increased by 9.9%. However, gasoline and diesel vehicle sales declined by 18.0% and 19.7%, respectively.
Despite their fourth-place market share, Hyundai Motor and Kia are considered strong performers, outperforming BMW Group and Toyota Group. Concerns arise that as Chinese automakers expand from pure electric vehicles to PHEVs, they may encroach on Hyundai Motor and Kia's key markets, potentially widening the gap further.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
