Hyundai Motor Group (HMG) is expected to rank third, the highest ever, in sales in the European automobile market in 2022.
The Korean automotive group started to export cars to Europe in 1977. For the first time since then, it is expected to overtake France’s Renault Group in the European market.
HMG sold 986,860 units in Europe between January and November of this year, according to the European Automobile Manufacturers Association (ACEA) on Dec. 16. Despite a semiconductor shortage, the Korean automaker successfully managed its supply chain and increased sales by 4.6 percent from the previous year. Hyundai Motor Co. sold 477,667 units in total, up 1.0 percent from the same period last year, while Kia Corp. sold 509,193 units, reaching a new high in sales.
During the same period, Renault Group sold 945,552 units, down 3.6 percent from the previous year. HMG will certainly rank third for the first time on an annual basis, experts say. First and second place went to Volkswagen Group (2,516,555 units) and Stellantis (1,893,318 units), respectively.
HMG sat at ninth place in 2016, but raised its rankings to seventh place in 2017 and fourth place in 2018 and 2019. Its ranking fell by a notch in 2020 before regaining fourth place in 2021. This year, its share is expected to reach 9.7 percent, higher than last year’s record high of 8.7 percent.
HMG completed the construction of Kia’s Slovakia plant in 2006 and Hyundai Motor Co.’s Czech plant in 2008, beginning to expand its presence in Europe in earnest. Its growth was driven by the Kia Sportage, a mid-size sports utility vehicle (SUV) tailored to European consumers, the Kia CEED, a European strategic model, Hyundai Motor Co.’s Tucson and hatchback i30. The Sportage beat European competitors by a large margin and was recently honored as the 2023 Car of the Year in Spain and Greece.