Korean Media: Hyundai's Sales in Europe Drop 10%, While BYD Surges 114%!
On June 28, South Korean media outlet The Korea Economic Daily published an article stating that although the European automotive market has continued to grow steadily due to rising demand for eco-friendly vehicles, Hyundai and Kia's positions in the region have actually shrunk. This stands in stark contrast to BYD, which achieved triple-digit growth.
According to data released by the European Automobile Manufacturers Association (ACEA), new car registrations in Europe reached 1,152,315 units in April, a 7% increase compared to the same period last year. This growth is primarily attributed to the expanding overall market size driven by the accelerating shift toward electrification.
However, during the same period, combined sales of Hyundai and Kia actually declined by 1.3% to 88,586 units. Due to their failure to keep pace with market growth, their combined market share in Europe dropped to 7.7%, down 0.6 percentage points from the previous year.
Data on cumulative sales from January to April shows that while the European market as a whole grew by 4.8%, sales for Hyundai and Kia fell by 2.4%, totaling only 348,604 units. Their cumulative market share also declined to around 7.5%.
In April alone, Hyundai sold just 40,411 vehicles in Europe, a significant 10.4% drop compared to the same month last year.
The European market is currently undergoing a rapid transition toward electrification. In April, electric vehicle registrations—including pure electric and hybrid models—increased by 21%, accounting for more than two-thirds of total registrations. In contrast, demand for internal combustion engine vehicles such as gasoline-powered cars (down 15%) and diesel vehicles (down 17%) saw sharp declines.
Seizing this opportunity, Chinese automakers with strong eco-friendly vehicle portfolios are rapidly capturing market share. Notably, BYD’s sales in Europe reached 27,008 units in April—a 114.5% year-on-year increase—narrowing the gap with its South Korean competitors. Chery’s sales also surged by over 300%, while market leader Tesla from the United States recorded sales of 10,654 units, up 46.5%.
Concerns are now growing both within and outside the Korean industry: if Hyundai and Kia fail to accelerate their transition to electrification, they may face a double blow—shrinking market share and potential future penalties under stringent European carbon emission regulations.
Original source: toutiao.com/article/1869207572500611/
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