Hyundai, Kia's Europe sales hit new high in 2023

  • IANS
  • Stock Market News
Hyundai, Kia's Europe sales hit new high in 2023
Credit: © Reuters.

Seoul, Jan 19 (IANS) Hyundai Motor and its smaller affiliate Kia on Thursday said that their vehicle sales in Europe hit an all-time high in 2023 on brisk demand for SUV and electric models. Hyundai and Kia sold a combined 1,106,467 units in Europe last year, up 4.3 per cent from a year earlier, the companies said, citing data from the European Automobile Manufacturers' Association (ACEA).

The number broke the previous record of 1,065,227 vehicles set four years earlier. Their European sales surpassed the 1 million mark for three years running in 2023, reports Yonhap News Agency.

Hyundai saw its top line expand 3.1 per cent in 2023 from a year earlier, with Kia's sales climbing 5.4 per cent.

Hyundai and Kia accounted for 8.6 per cent of the European passenger vehicle market last year, trailing Volkswagen (ETR: VOWG_p ) Group with a share of 25.9 per cent, Stellantis' 16.6 per cent and Renault (EPA: RENA ) Group's 9.7 per cent. Hyundai and Kia's proportion was down 0.8 percentage point from a year earlier.

Hyundai and Kia, which belong to South Korea's top automaker, Hyundai Motor Group, took the No. 4 spot for the third straight year.

Hyundai's bestselling models included the Tuscon and Kona SUVs, as well as the Kona and Ioniq electric vehicles.

In December, Hyundai and Kia saw combined sales in Europe rise 5.1 per cent on-year to 77,059 units, with their market share edging up 0.6 percentage point to 7.3 per cent, according to the ACEA data.

--IANS

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