Hyundai, Kia’s Q1 sales in Europe drop 1.3 pc year-on-year

The combined vehicle sales of South Korea’s leading automakers Hyundai Motor and Kia fell 1.3 per cent from a year ago in the first quarter (Q1) of 2024 in Europe, industry data showed on Thursday.

According to data from the European Automobile Manufacturers’ Association both automakers sold a combined 2,78,432 units in Europe during the January-March period, down 1.3 per cent from the same period last year.

The data showed Hyundai Motor’s sales inched up 1.3 per cent to 1,35,281 units, while that of Kia dropped 3.6 per cent to 1,43,151 units, reports Yonhap News Agency.

The combined market share of Hyundai and Kia for Q1 in Europe stood at 8.2 per cent, down 0.5 percentage points from last year.

For March alone, the combined sales of the companies fell 5.6 per cent on-year to 1,12,692 units. Sales of Hyundai declined 5.2 per cent to 53,357 units, and that of Kia shed 5.9 per cent to 59,335 units.

Meanwhile, Hyundai Motor and Kia have entered into a strategic partnership with leading battery company Exide Energy, as part of their electric vehicle expansion plans in India.