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Automobiles

Hyundai Motor, Kia winners in sagging European car market in September

The duo’s European market share reached an all-time high thanks to how they managed the chip shortage

By Oct 18, 2021 (Gmt+09:00)

Hyundai's all-electric SUV IONIQ5
Hyundai's all-electric SUV IONIQ5

Hyundai Motor Co. and Kia Corp., the two automaking units of Hyundai Motor Group, saw their market share in Europe rise to a level never seen before in September, a month when almost all major carmakers posted declining sales there.

According to the European Automobile Manufacturers’ Association (ACEA), the South Korean duo sold a combined 108,344 vehicles in Europe, up 6.9% from 101,308 units a year earlier.

Hyundai’s September sales increased 5.7% from the previous year, while Kia’s sales rose 8.1%.

The two companies' combined market share rose to their highest level of 11.1%, up 3.3 percentage points from the year-earlier period.

By contrast, the latest ACEA data showed that nearly all automakers recorded double-digit declines in major European countries.

Sales at Volkswagen Group and Stellantis, Europe’s two largest automakers, fell 29.7% and 30.4%, respectively, last month.

Renault, Europe’s No. 3 auto-making group, saw its sales volume decline 24.2%, with its market ranking falling behind the fourth-largest Hyundai-Kia group.

Other carmakers also struggled in Europe last month, with BMW’s sales down 24.4%, Toyota's down 18% and Daimler's down 48.1%.

Hyundai's Tucson
Hyundai's Tucson

DISASTROUS MONTH FOR EUROPEAN MARKET


ACEA data showed European auto sales in September plunged 25.2% on year to 972,723 units, the lowest for the month since the industry association began compiling data in 1995.

The association attributed the disastrous performance to the protracted automotive chip shortage, which squeezed vehicle supplies to dealerships.

Hyundai and Kia, meanwhile, managed the dire situation relatively well, minimizing their production stoppages, according to industry officials.

Kia's latest Sportage SUV
Kia's latest Sportage SUV

Hyundai sold about 15,000 units of its popular mid-size SUV Tucson in the European market last month. The automaker also sold a combined 10,000 units of Kona EV and the IONIQ5, its latest all-electric SUV.

For Kia, the Ceed compact hatchback, the Niro crossover SUV and the long-running Sportage SUV led its growth in Europe.

Write to Byung-Uk Do at dodo@hankyung.com

In-Soo Nam edited this article.

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