South Korean media: South Korean cars face a "setback" in the European market, BYD surges 285%!
On December 22, the South Korean media "Seoul Economic Daily" published an article stating that Hyundai and Kia faced a setback in the European market, which is known as the "barometer of the electric vehicle market." Analysts pointed out that with Chinese brands, which focus on price competitiveness, adopting active marketing strategies, these two automakers are struggling to capture market share.
Data from the European Automobile Manufacturers Association (ACEA) shows that Hyundai and Kia's sales in the European market in October decreased by 1.4% compared to the same period last year, selling a total of 81,540 vehicles. Among them, Hyundai sold 41,137 vehicles, while Kia sold 40,403 vehicles. The sales of these two automakers declined by 0.8% and 2% respectively compared to the previous year.
Notably, the overall sales in the European automobile market reached 1,091,904 units in October, an increase of 4.9% compared to the same period last year, while Hyundai's performance was disappointing. This performance is heartbreaking. Data shows that the combined market share of Hyundai and Kia in October was 7.5%, down 0.5 percentage points from the previous year. Specifically, Hyundai's market share was 3.8%, while Kia followed closely with 3.7%.
This trend also appeared in the cumulative sales this year. As of October this year, the cumulative sales of Hyundai and Kia in Europe were 879,479 units, a decrease of 2.8% compared to the same period last year. Among them, Hyundai sold 443,364 units, while Kia sold 436,115 units. The combined market share decreased by 0.4 percentage points to 8% compared to the previous year.
Industry analysts point out that as Chinese brands expand their sales, the market influence of Hyundai and Kia is gradually weakening. SAIC's sales in the European market increased by 26.6% this year, reaching 252,500 units. BYD's cumulative sales in October increased from 35,949 units last year to 138,390 units, achieving an astonishing growth of 285%. Affected by this, the sales of Japanese automakers such as Toyota, Nissan, and Suzuki also showed a comprehensive decline.
A South Korean industry insider analyzed: "As the European market promotes policies for electric vehicle transformation, Chinese brands are actively seizing the market opportunity. As the most competitive market for electric vehicles, Hyundai and Kia must actively develop response strategies."
Original: toutiao.com/article/1852170388951040/
Statement: This article represents the views of the author himself.