South Korean media: BYD's sales in Europe surged fourfold, Hyundai Motor Group continues to decline for two consecutive years!
On March 3, South Korean media "Today's Finance" published an article stating that according to the information, due to the offensive of Chinese brands, Hyundai Motor Group had a difficult time in the European automotive market last year.
Although the company is defending its overall performance through promotional activities in the United States, some people point out that given the long-term uncertainty of exports to the United States, market diversification is necessary.
Data released by the Korea Automobile Manufacturers Association (KAMA) shows that the combined market share of Hyundai and Kia in Europe decreased by 0.3 percentage points to 7.9%. Among them, Hyundai's market share decreased by 0.1 percentage points to 4.0%, and Kia's market share decreased by 0.3 percentage points to 3.8%.
The combined sales decreased by 2.0% to 1,042,509 units, marking the second consecutive year of decline.
The negative growth of Hyundai and Kia is due to the recent active efforts of Chinese automakers targeting the European market, focusing on electric vehicles.
Chinese brands such as BYD, SAIC, and Volvo sold a total of 826,503 cars in Europe, an increase of 24.2% compared to the previous year, with their market share rising from 5.1% to 6.2%.
Especially the world's largest electric vehicle company, BYD, led the growth of Chinese brands with sales of 187,657 units, about four times the sales of the previous year.
Therefore, besides Korean cars, European (64.9%→64.8%), Japanese (14.0%→12.6%) and American (5.8%→5.0%) brands also failed to avoid a decline in market share.
Original: toutiao.com/article/1858630281160728/
Statement: This article represents the personal views of the author.