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Hyundai, Kia’s combined market share in Europe to reach highest

Collected: 2016.09.20

Distributed: 2016.09.21

Source: Go Direct

[Tucson]

South Korea’s largest automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp.’s combined market share in the European auto market in the first eight months of this year reached 6.2 percent, the record high set in 2013, driven by robust sales of their recreational vehicles (RVs) such as the Tucson.

According to the European Automobile Manufacturers` Association (ACEA) Monday, Hyundai and Kia sold 627,621 cars in total - Hyundai with about 330,000 units and Kia more than 290,000 units - in the January-August period this year, an 11.9 percent gain from the same period last year.

Brisk sales of Hyundai’s flagship sports utility vehicle (SUV) Tucson largely contributed to an increase in the market share of the Korean auto giant in Europe. Combined sales of both old and new models of the Tucson reached 102,402 units, up 42.3 percent from a year ago, and sales of the new version amounted to 101,453 units. The new Tucson marks the very first model of the South Korean auto group to have sold more than 100,000 units since the company entered the European market.

Hyundai’s RV sales in Europe are on an upswing. RV sales in the company’s total vehicle shipments to the European auto market jumped from 33 percent in 2013 to 43 percent this year.

A company official said that if sales of the Tucson remain brisk into the year-end, the Korean automaker is expected to break the previous market share record in the European automotive market. He also noted strong demand for its RVs is helping to improve the company’s profitability.

By Noh Won-myung

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