Hyundai Motor Company and Kia's Global Electric Vehicle Market Share Declines
SNE Research, Global EV Sales Volume Aggregated for the First Half of the Year
[Asia Economy Reporter Choi Dae-yeol] Global electric vehicle sales have more than doubled this year. With rapid growth mainly from Chinese manufacturers, Hyundai Motor and Kia's market shares have declined.
According to data released on the 23rd by market research firm SNE Research, 1,787,300 pure electric vehicles were sold worldwide in the first half of this year. Compared to 656,100 units sold during the same period last year, this represents a 172% increase.
The top-selling brand was Tesla, with 396,200 units sold, maintaining a significant gap from the second-ranked group. Its market share was 22.2%, down from 27.7% in the same period last year. This was helped by strong sales of the Model 3 and Model Y.
In terms of growth, Chinese brands dominated the top ranks. Shanghai GM Wuling, ranked 9th in the first half of last year, sold 191,900 units, increasing sales by nearly 1400%. It is the second-largest electric vehicle brand overall, driven by the strong local popularity of the Hongguang Mini EV. Other Chinese brands such as BYD (3rd place, 5.4% market share in the first half of this year), Great Wall Motors (5th place, 2.9%), and NIO (9th place, 2.3%) also showed steady growth.
Hyundai Motor sold 510,000 units, up about 76% from last year, but its market share shrank from 4.5% to 2.9%. Among the top 10 brands, only Hyundai and Renault posted double-digit sales growth rates. Volkswagen's ranking improved with increased sales of the ID.3 and ID.4 models.
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Plug-in hybrid electric vehicles (PHEVs) also saw strong growth, with 826,900 units sold in the first half of this year, more than a 160% increase from last year. BMW maintained its top market share position, but its share dropped from 17.0% to 12.9%. BYD, Toyota, Mercedes, Volkswagen, and Audi all increased sales above the average, boosting their market shares. Meanwhile, Kia sold about 300,000 units in the first half of this year, with its market share falling from 4.1% to 3.6% compared to the same period last year.
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