Hyundai Motor Co. and its affiliate Kia Corp.’s sales jumped 21 percent on-year to exceed 1 million units in Europe last year on environment-friendly models, industry data showed Tuesday.
Hyundai and Kia sold a combined 1,018,563 vehicles in Europe in 2021 as strong demand for their eco-friendly cars helped offset the impact of a prolonged chip shortage on their production, according to the European Automobile Manufacturers’ Association (ACEA).
The two South Korean carmakers beat BMW to rank fourth in terms of market share last year, following Volkswagen Group, Stellantis, Renault Group.
Stellantis is a 50:50 joint venture set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. and French automaker PSA Groupe.
Hyundai and Kia claimed a share of 8.7 percent in the European passenger vehicle market last year, up 1.7 percentage points from a year earlier.
In 2022, they aim to sell a total of 7.47 million vehicles, up 12 percent higher than their sales of 6.67 million autos last year.
Source: Yonhap News Agency