"Electric Cars Led the Way"…Hyundai Motor and Kia's Q1 European Sales Up 21% Year-on-Year

by Ryu Hyunseok

Published 20 Apr.2022 16:10(KST)

Ranked 3rd in European Market Share in Q1

"Electric Cars Led the Way"…Hyundai Motor and Kia's Q1 European Sales Up 21% Year-on-Year

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Motor and Kia's first-quarter sales in Europe increased by more than 21% compared to the same period last year. Despite the overall market contraction, sales of vehicles such as electric cars increased, raising their market share to rank third.

According to the European Automobile Manufacturers Association (ACEA) on the 20th, Hyundai Motor and Kia's sales in Europe in the first quarter reached 269,350 units, a 21.3% increase compared to the same period last year. Individually, Hyundai Motor sold 124,128 units, up 14.7%, and Kia sold 145,222 units, up 27.6%.

This strong sales performance was achieved despite the overall European market size shrinking compared to the first quarter of last year. The total European market size in the first quarter was 2,753,256 units, down 10.6% year-on-year.

With the increase in sales volume, Hyundai Motor and Kia's market share also approached 10%. Their combined market share in the first quarter was 9.8%, up 2.6 percentage points from the same period last year. Their market share rose to third place, up from fifth place in the first quarter of last year.

By vehicle type, eco-friendly cars led the increase in sales. Sales of models such as the Kona Electric, Ioniq Electric, Ioniq 5, Soul, Niro, and EV6 reached 42,599 units, a 59.4% increase compared to the same period last year.

In particular, Hyundai Motor's Ioniq 5, built on the dedicated electric vehicle platform E-GMP, has been sold since May last year, with cumulative sales of 27,260 units, while Kia's EV6, sold since October last year, recorded 16,695 units.

Meanwhile, Volkswagen Group ranked first with 23.8%, followed by Stellantis at 19.0%. Renault Group, which was third in the first quarter of last year, fell to fourth place with an 8.4% market share. BMW, which was fourth, dropped to fifth place with 7.3%.