Hyundai and Kia Remain Fourth in Global Electric Vehicle Market Excluding China
In the ever-evolving landscape of the global electric vehicle market, Hyundai Motor Company and Kia have maintained their position as the fourth-largest players in the first half of this year, excluding China. According to SNE Research, a renowned battery market research organization, the renowned Korean automakers introduced a remarkable 266,000 electric vehicles (excluding plug-in hybrid vehicles) to the global market during this period. Notably, this figure represents a 5.6% increase compared to the first half of 2022.
Despite their strong performance, Hyundai and Kia observed a decrease in market share, accounting for 10.3% in cumulative sales volume from January to June. This figure represents a 3.4 percentage point decline from the previous year and places them in the fourth position, down two spots from the same period in 2022.
The significant sales growth achieved by Hyundai Motor Group can be attributed to the success of their electric vehicle models: Ioniq 5, EV6, and Niro EV. SNE Research highlighted the positive results of this strategy and affirmed Hyundai’s commitment to further expand their presence in the electric vehicle market.
In terms of sales volume, Tesla emerged as the market leader with a notable 596,000 units sold, capturing an impressive 23.0% market share. Volkswagen secured the second spot with 341,000 units sold (13.2%), closely followed by Stellantis with 280,000 units sold (10.8%).
Shanghai Automotive Group Demonstrates Remarkable Growth
Shanghai Automotive Group (SAIC), a prominent player in China’s domestic market, has attracted attention by achieving a remarkable three-digit growth rate, making it the only brand in the top 10 selling brands to exhibit such impressive results. SAIC sold 79,000 units predominantly under the MG brand, securing the 9th rank in Europe and Asia. Notably, their sales volume increased by 134.0% compared to the previous year.
Across the globe, excluding China, the total number of electric vehicles registered in various countries during the first half of this year reached approximately 2.59 million units, marking a significant 40.4% increase from the same period in 2022.
SNE Research acknowledged the growing presence of major Chinese electric vehicle manufacturers, such as BYD and MG, in the global market. These companies, which have already established themselves in China, are now making significant strides worldwide. As the market dynamics continue to shift, it will be interesting to observe how the industry evolves in the coming months and years. Correspondent: Huh Won-seok
[비즈니스포스트] In the first half of this year (January-June), Hyundai Motor Company and Kia remained fourth in terms of market share in the global electric vehicle market (including plug-in hybrid vehicles) excluding China.
According to SNE Research, a battery market research organization, on the 8th, Hyundai Motor and Kia introduced 266,000 electric vehicles in the global market in the first half of this year, excluding China, which is the center of domestic companies. It increased by 5.6% from the first half of 2022.
▲ In the first half of this year, Hyundai Motor Company and Kia remained in fourth place in terms of market share in the global electric vehicle market (including plug-in hybrid vehicles) excluding China.
Based on cumulative sales volume from January to June this year, Hyundai and Kia’s market share was 10.3%, down 3.4 percentage points from a year ago. It was also in 4th place, down two parts from the same period last year.
SNE Research said, “Hyundai Motor Group increased sales compared to the same period last year with the Ioniq 5, EV6, and Niro EV electric vehicles.” Through this, we will expand sales in the electric vehicle market.”
Tesla came first with 596,000 units sold, accounting for 23.0% of the market. Second place Volkswagen achieved 341,000 units (13.2%), and third place Stellantis achieved 280,000 units (10.8%).
▲ Global electric vehicle sales excluding China in the first half of 2023. < SNE리서치 >
Shanghai Automotive Group (SAIC), a strong player in China’s domestic market, attracted attention by showing a three-digit growth rate, the only one among the top 10 selling brands. In Europe and Asia, it sold 79,000 units with the MG brand in the lead, coming in 9th. Sales volume increased 134.0% from a year ago.
In the first half of this year, the total number of electric vehicles registered in countries around the world excluding China was about 2.59 million units, an increase of 40.4% from the first half of 2022.
SNE Research said, “Major Chinese electric vehicle manufacturers such as BYD and MG, which have been proven in the Chinese market, are making full entry into the global market.” ” he said. Correspondent Huh Won-seok
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