Hyundai Motor Company and Kia Corporation experienced a 7.5% decrease in combined sales in the European Union (EU) in October, with a total of 82,840 units sold, as reported by the European Automobile Manufacturers’ Association (ACEA). Hyundai Motor saw a 4% decline in sales to 41,594 units, while Kia’s sales dropped by 11% to 41,246 units. This decline contrasted with the overall EU market, which witnessed a 1% increase in passenger vehicle sales to 866,397 units.
Year-to-date (YTD), Hyundai-Kia’s combined sales in the EU fell by nearly 4% to 904,879 units, while the overall passenger vehicle sales in the region increased by 1% to 8.9 million units.
However, the picture was brighter in the US market for Hyundai and Kia in October. Hyundai reported an 18% year-on-year sales increase to 71,802 units, driven by strong demand for models like Sonata, Elantra, Tucson, and the Ioniq 5 BEV. Its YTD total reached 682,296 units, up 4% from the previous year.
Kia also saw a sales surge of over 16% to 68,908 units in October, attributed to popular SUV models such as Sportage, Sorento, Telluride, K4, and EV9. Despite this monthly increase, Kia’s YTD total stood at 653,078 units, a decrease of just under 2%.
The contrasting performance of Hyundai-Kia in the EU and the US markets highlights the importance of regional market dynamics and consumer preferences. The strong sales in the US market indicate a successful product strategy and marketing approach by both automakers, while the challenges in the EU market may require a different approach to regain momentum.
