SEOUL — Hyundai and Kia’s sales in the European market continued to increase in November 2023, with a market share of 8.3%, compared to the same period in 2022, according to data released by the European Automobile Manufacturers Association. It increased by 0.1%.
The European car market will be valued at approximately $15 billion in 2022, with approximately 13 million new vehicle registrations. Although the number of new vehicle registrations decreased by 10.4% compared to a year ago, it was still larger than the North American market, which was around 12.7 million vehicles. Number of newly registered vehicles, according to MarkLines Data Center USA, an automotive market research data service provider.
According to data released by the European Automobile Manufacturers Association (ACEA), a total of 89,076 Hyundai and Kia vehicles were sold in Europe in November 2023, an increase of 6.4% from the previous year. Hyundai Motor Group’s overall car sales in the world’s fourth largest automobile market are based on popular sports cars such as the Kia Sports Stage (13,249 units), Hyundai Tucson (11,461 units), and Hyundai Kona (6,782 units). This was led by multi-purpose vehicle models.
The sales performance of EV models also contributed to the expansion of Hyundai Motor Group’s market share. Niro EV sales in November were 3,532 units, followed by Kona EV (2,312 units), IONIQ 5 (1,403 units), EV9 (1,197 units), and IONIQ 6 (804 units).
As of November this year, Hyundai and Kia’s combined sales in Europe reached 1,029,632 units, an increase of 4.2% year-on-year. This means annual sales in Europe will exceed 1 million units for the third consecutive year. Cumulative EV sales through November increased by 5.9% to 137,868 units.
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