Posts Highest-ever Market Share in Sept.
Hyundai Motor and Kia recorded the highest-ever market share in Europe in September. The two Korean automakers alone achieved high growth in the European market, while other global makers suffered a sharp sales drop.
Hyundai Motor and Kia sold a combined total of 108,344 vehicles in Europe in September, according to the European Automobile Manufacturers' Association (ACEA) on Oct. 17. The figure represented an increase of 26.9 percent from 85,345 units in September 2020. Hyundai Motor’s sales increased by 5.7 percent while Kia’s sales surged by 56.2 percent. Their combined market share was 11.1 percent, up 4.5 percentage points from 6.6 percent in September 2020. Hyundai Motor and Kia achieved a 10 percent market share in Europe for the first time in history in August.
On the other hand, major automakers, including Europe's No. 1 automaker Volkswagen Group, posted their worst sales. Volkswagen and Stellantis saw their sales fall by 29.7 percent and 30.4 percent, respectively, compared to the same period of 2020. Renault Group, one of Europe's big three automakers, sold 96,781 units in September, down 24.2 percent from the same month of 2020, falling to fourth place behind Hyundai Motor-Kia. BMW Group, Toyota Group and Daimler Group suffered a sales drop of 24.4 percent, 18.0 percent, and 48.1 percent, respectively.
Europe's total car sales stood at 972,723 units in September, the lowest level since 1995 when the ACEA began to compile related data. Compared to September 2020 (130,103 units), sales decreased by 25.2 percent. “Vehicle production dropped due to a prolonged shortage of semiconductors,” ACEA said. "Car sales have plummeted in most countries, including Italy, Germany, France and Spain."