Hyundai Motor Company and Kia Corporation reported a 10.5% decrease in vehicle sales in the European market for November 2024, selling a combined total of 79,744 units. The data, released by the European Automobile Manufacturers’ Association (ACEA) on December 19, reflects year-over-year declines of 12.5% for Hyundai and 8.4% for Kia.
Hyundai sold 39,592 vehicles in November, with key models including the Tucson (11,267 units), Kona (5,848 units), and i10 (4,988 units). Kia reported 40,152 units sold, led by the Sportage (13,013 units), Ceed (8,093 units), and Picanto (5,549 units).
The market share for both companies stood at 3.8% in November, down from the previous year by 0.4 percentage points (P) for Hyundai and 0.3P for Kia. The decline reflects broader challenges faced by the automotive industry, including economic pressures and shifting consumer preferences.
Sales of eco-friendly vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and electric vehicles (EVs), remained a bright spot for the group. Hyundai's Tucson Hybrid sold 6,456 units, while the Kona EV recorded 4,643 units. Kia’s Niro and EV3 followed closely with 4,137 and 2,522 units sold, respectively, showcasing growing demand for greener alternatives.
Despite the recent slowdown, Hyundai and Kia have cumulatively sold 984,541 units in Europe from January to November 2024. This represents a 4.4% decline compared to the same period in 2023. The combined market share of the two automakers for the year to date is 8.3%, a reduction of 0.4 percentage points from the previous year.
The companies’ flagship SUVs, such as the Hyundai Tucson and Kia Sportage, continue to play a vital role in driving sales. However, the decline in market share highlights intensifying competition and the need for strategic adjustments in the region.
Hyundai and Kia have emphasized their commitment to innovation and sustainability, with a focus on expanding their lineup of eco-friendly models to address the growing demand for low-emission vehicles. The company’s recent investments in EV production and infrastructure aim to solidify its position as a leader in the European market.
As the European automotive landscape evolves, Hyundai and Kia will need to adapt to fluctuating market conditions while leveraging their strong brand presence and commitment to sustainability to regain momentum in sales and market share.
Sayart / Joy, nunimbos@gmail.com
