Corona 19 also shares major markets such as the US, Europe, and India↑
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It was found that Hyundai Motor Company and Kia increased their share in major markets such as India, the United States, and Europe despite the global auto market slowdown last year due to the novel coronavirus infection (Corona 19). According to the industry on the 24th, the number of global sales of Hyundai and Kia was 63,5851 units, down 11.8% from the previous year. However, this is significantly lower than the 16% reduction in global automobile demand last year estimated by the Hyundai Motor Group Global Management Research Center.
By region, it was found that the market share of Hyundai Motors and Kia increased in major markets excluding China and Russia. In particular, the achievements in India are remarkable. Hyundai Motor Company and Kia recorded positive growth in India last year, selling 564,147 units, up 1.6% from the previous year. This is a remarkable achievement considering the fact that the Indian automobile market was completely closed due to Corona 19. The market share increased by 4.3 percentage points from 18.8% to 23.1%.
It is analyzed that sales of new sports utility vehicles (SUVs) gained popularity and increased significantly. Hyundai Motor Company and Kia sold 315,532 SUVs in India last year, accounting for 44.6% of all SUV sales in India. Hyundai Creta and Kia Seltos each sold 100,000 units, ranking first and second in best-selling SUVs, and Venue also surpassed 80,000 units, ranking fourth.
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In the US market, it recovered its market share in the 8% range in 4 years since 2016 (8.1%). The share of Hyundai Motors and Kia was 8.4%, an increase of 0.6 percentage points from the previous year. It is the highest in eight years since 2012, which recorded 8.7%. Hyundai Motor Company and Kia made a profit by selling 1.24,758 units, down 7.6% year-on-year, even with the US market declining 14.4% last year. Hyundai and Kia’s decline is the smallest among major companies selling more than 500,000 units a year in the US market, including GM, Ford, and Toyota. Large SUVs such as Palisade (82,661 units) and Telluride (75,129 units) led the sales of Hyundai and Kia in the US. Avante, selected as’North American Car of the Year’, sold 101,590 units.
Its share in the European market has also increased. Sales of Hyundai Motors and Kia decreased 21.0% year-on-year, but their market share rose 0.3 percentage points from 6.7% in 2019 to 7.0% last year. This is because the overall demand for the European automobile market fell 24.3%. It is the first time since entering Europe that Hyundai Motors and Kia’s market share in Europe has exceeded 7%. In particular, eco-friendly cars sold 187,930 units, twice that of 2019, with 95,917 pure electric cars sold. One out of five vehicles sold in Europe by Hyundai and Kia was eco-friendly.
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In Brazil, sales volume fell 20.1% year-on-year, but the market share was 8.9%, up 0.7 percentage points year-on-year. The compact car HB20 ranked second in passenger car sales in Brazil. Mexico also saw a 25.0 percent decline in sales, but its market share rose 0.4 percentage points to 11.1 percent.
In the domestic market, Grandeur and Sorento recorded the highest sales ever, and overall sales increased 6.2% compared to the previous year. Accordingly, Hyundai Motor and Kia’s domestic market share increased by 0.02 percentage points to 70.0%.
However, China, the world’s largest automobile market, still struggled. Hyundai and Kia’s sales in China amounted to 664,744 units, down 26.9% from the previous year. Compared to the 6.2% decline in China’s industrial demand last year, the decline is even more painful. The market share of Hyundai Motors and Kia in China fell 1.0 percentage point from 4.5% to 3.5%. In the Russian market, the market share fell 0.2 percentage points from 23.1% to 22.9%.
/ Reporter Park Hanshin [email protected]
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