Hyundai, Kia Near 1 Million EV Sales in Europe as Market Rebounds

Hyundai Motor and Kia are expected to reach 1 million cumulative electric-vehicle sales in Europe in the first half of this year.

Hyundai Motor Group said on Feb. 15 that the two automakers sold a combined 915,996 EVs in Europe from the start of Soul EV sales in 2014 through last year.

In 2021, they sold 135,408 EVs in Europe, topping 100,000 annual sales there for the first time.

Sales continued to rise in 2022 and 2023, reaching 143,460 and 147,457 vehicles, respectively.

In 2024, sales fell to 121,705 amid reduced EV subsidies in major European countries including Germany and concerns about an economic slowdown.

Last year, sales rebounded to 183,912 on the strength of new models such as the Ioniq 9, EV4 and EV5. That was more than a 50% increase from a year earlier and the highest annual total on record.

Given that Hyundai and Kia averaged more than 15,000 EV sales a month in Europe last year, the group said it is likely the companies will surpass 1 million cumulative sales in the European EV market in the first half of this year.

Europe’s EV market has also regained momentum since last year. The European Automobile Manufacturers’ Association, or ACEA, said annual EV sales totaled 2,585,187 last year, accounting for 19.5% of the market, and in December EV sales surpassed gasoline vehicles for the first time.