Hyundai Motor Maintains 1st Place with 52% Market Share in Hydrogen Vehicles from January to August This Year

Toyota Mirai 2nd Generation New Model Shows Rapid Growth Trend

[Asia Economy Reporter Yu Je-hoon] Amid nearly doubling global sales of hydrogen fuel cell vehicles from January to August this year, Hyundai Motor Company maintained its lead by surpassing Toyota with a market share of over half.

According to SNE Research on the 6th, Hyundai sold approximately 5,900 hydrogen fuel cell vehicles from January to August, holding a 52.2% market share and retaining first place. Although Toyota saw a surge in sales of the second-generation Mirai model, its market share remained at 39.2%, keeping it in second place since April.

Honda's sales slightly rebounded but its market share shrank to 1.6%. This indicates that Honda's market position has further diminished amid the solid duopoly of Hyundai and Toyota.

Total sales volume was recorded at about 11,200 units, a 91.7% increase compared to the same period last year. SNE Research explained that the second-generation Toyota Mirai model led the overall market growth.

SNE Research stated, "Although Hyundai, the global leader in the hydrogen vehicle market last year, continues to hold first place this year, it has allowed Toyota to catch up, somewhat reducing its previously overwhelming market dominance. Hyundai needs to place greater emphasis on strengthening its fundamental competitiveness, research and development, and reviewing marketing strategies."

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