Hyundai Kia Motors, First Year Surpasses 200,000 Units in European Eco-Friendly Vehicle Sales 'Green Light'

Hyundai Kia Motors Surpasses 150,000 Eco-Friendly Vehicle Sales in Europe from January to October
Double-Digit Growth in Eco-Friendly Vehicle Sales Driven by European Fuel Efficiency Regulations
Annual Market Share in Europe Expected to Exceed 7% This Year

[Asia Economy Reporter Su-yeon Woo] Hyundai Kia Motors is expected to surpass 200,000 units in annual sales for the first time ever in the European market this year, as sales of eco-friendly vehicles accelerate. Despite an overall decline in European automobile demand due to the novel coronavirus disease (COVID-19), the eco-friendly vehicle market has performed well this year thanks to strengthened fuel efficiency regulations. Hyundai Kia Motors recorded double-digit growth rates.

According to the European Automobile Manufacturers Association and Hyundai Kia Motors on the 19th, from January to October this year, Hyundai Kia Motors sold 150,252 eco-friendly vehicles in Europe, a 78% increase compared to the same period last year. This is the first time Hyundai Kia Motors' eco-friendly vehicle sales in Europe have exceeded 150,000 units, surpassing last year's level of around 120,000 units.

Hyundai Kia Motors' eco-friendly vehicle sales in Europe have recorded double-digit growth for five consecutive months compared to the previous year, and considering recent monthly sales of around 20,000 units and year-end demand, it is expected that sales will exceed 200,000 units for the first time ever this year.

At the beginning of this year, the industry raised concerns that Hyundai Kia Motors might face fines worth several hundred billion won if it failed to achieve annual sales of around 200,000 eco-friendly vehicles in Europe due to strengthened fuel efficiency regulations. This is because the European Union (EU) tightened regulations from this year, lowering the average carbon dioxide emissions per vehicle sold from 130g/km to 95g/km.

However, despite the market downturn caused by COVID-19, Hyundai Kia Motors recorded sales of over 150,000 units by October and is expected to comfortably achieve 200,000 units annually, dispelling concerns related to fines for fuel efficiency regulations.

However, variables remain, such as the potential for additional battery fires in the Kona EV, which is currently undergoing a global recall. Since the recall decision in October, Kona EV sales in Europe have maintained around 6,000 units per month, with over 30,000 units sold this year. Given that Kona EV orders are still backlogged locally in Europe, steady demand is expected to continue through the end of the year.

Another representative eco-friendly vehicle, the Niro EV, sold 24,588 units by October this year, a 180% increase compared to the previous year. The Niro EV sold more than 5,000 units in the Netherlands, an advanced eco-friendly vehicle market, by October, surpassing competitors such as Tesla's Model 3 and Volkswagen's ID.3 to rank first in the electric vehicle segment.

Thanks to the strong sales of eco-friendly vehicles, Hyundai Kia Motors is expected to achieve an annual market share of 7% in Europe for the first time ever this year. Based on October monthly figures, 81,128 units were sold, recording a market share of 7.2%, up 0.4 percentage points from the previous year. Hyundai sold 39,401 units, and Kia sold 41,727 units, with Kia outselling Hyundai for two consecutive months. By model, Hyundai's best-selling vehicle was the Kona (13,433 units), and Kia's was the Ceed (11,940 units).

This content was produced with the assistance of AI translation services.