Korean media: Europe becomes a battlefield for electric vehicles, and competition between Chinese and South Korean companies is intensifying!
On October 24, the South Korean media outlet "Today's Finance" published an article stating that Hyundai Motor, Kia Motor, and Chinese automakers are expanding their market share in Europe, which is one of the most competitive regions for electric vehicles. According to analysis, this is due to Tesla's gradually weakening influence in Europe, which has absorbed market demand.
BYD sold 9,130 cars in the EU in August, an increase of nearly three times compared to the same period last year. Including countries such as the UK, Iceland, Liechtenstein, Norway, and Switzerland, sales reached 11,455 units, exceeding Tesla (8,220 units) for the second consecutive month.
Not only BYD, but with the official entry of Chinese electric vehicles into Europe, overall sales have increased. SAIC Group sold 12,822 units in August, a 59% increase compared to the same period last year.
Sales of Hyundai and Kia in the European market are also continuously expanding. According to data from the European Automobile Manufacturers Association (ACEA), Hyundai and Kia sold 37,411 and 31,512 cars respectively in August. Compared to the same period last year, Hyundai saw a 13.8% increase, while Kia experienced a 6.9% decrease.
Regarding electric vehicles alone, both Hyundai and Kia lag behind BYD and SAIC. The sales of Hyundai's main eco-friendly models are concentrated in hybrid models, including Tucson (5,045 units), Kona (4,219 units), and Casper Electric (2,188 units). Kia sold 4,407 EV3s, 2,602 Niros, and 1,028 EV6s.
Although Tesla's market share is declining, Chinese electric vehicles are rapidly absorbing its market share, while Hyundai and Kia perform well in hybrid vehicles.
The EU is developing legislation requiring companies and rental vehicles to use environmentally friendly vehicles starting in 2030. The EU's initiative to enforce the use of environmentally friendly vehicles for company vehicles aims to first shift the large demand of companies and institutions towards electric vehicles. Previously, the EU had finalized a legislative act to prohibit the purchase of new internal combustion engine vehicles by 2035.
In this context, driven by the recent rapid launch of new electric vehicles, overall car sales in the EU are improving. According to The Wall Street Journal, pure electric vehicle sales increased by 30% year-on-year, with Germany seeing a 46% increase. Hybrid and plug-in hybrid vehicles also saw growth, increasing by 14% and 54.5%, respectively.
Therefore, competition between South Korean automakers targeting the European market and Chinese electric vehicle manufacturers is expected to intensify. Electric vehicles account for 15.8% of total EU vehicle sales.
Original: www.toutiao.com/article/1846835491522888/
Statement: This article represents the views of the author.