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Hyundai, Kia carve out record 7 pct market share in Europe last year

Economy 17:17 January 19, 2021

SEOUL, Jan. 19 (Yonhap) -- Hyundai Motor Co. and affiliate Kia Corp. said Tuesday their combined market share exceeded 7 percent for the first time in the European market last year as they fared better than rivals despite the COVID-19 pandemic.

Hyundai and Kia's market share rose from 6.7 percent in Europe in 2019 though their sales fell 21 percent on-year to 841,520 vehicles in Europe, the companies said.

Hyundai's sales declined 25 percent on-year to 424,805 units and Kia's were down 17 percent to 416,715 units.

The sales decline was in line with European market trends.

Overall vehicle demand across Europe plunged 24 percent to 11.96 million autos last year as the pandemic weighed on vehicle sales.

Hyundai and Kia sold more than 100,000 units of both the Kona subcompact SUV and the C'eed sporty wagon for a second straight year in 2020.

This photo provided by Hyundai Motor shows the Kona subcompact SUV. (PHOTO NOT FOR SALE)(Yonhap)


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