Hyundai, Kia Claim No. 3 Spot in European Car Market

Hyundai and affiliate Kia claimed the third-biggest market share in Europe in the first quarter this year.

According to the Korea Automobile Manufacturers Association, Hyundai and Kia sold a combined 270,000 vehicles in Europe in the January-March period, an on-year increase of more than 21 percent. Their market share was 9.8 percent.

Despite chip shortages and soaring oil prices, they claimed the third-largest market share due to strong demand for eco-friendly vehicles.

Volkswagen led the market with 23.8 percent, followed by Stellantis with 19 percent.

Hyundai and Kia also ranked third in the United States in the first quarter with sales of 320,000 cars, thanks to increased demand for electric cars. However, their sales in China plummeted by 39.3 percent to 94,000 cars.