SEOUL, KOREA - Despite the rebound of the European car market which came after seven years of an economic recession, Hyundai Motor saw its sales decline there. Since the global financial crisis, the European car market has remained in a slump until last year. Hyundai Motor, however, has performed relatively well there.
Ironically, Hyundai Motor’s performance in Europe turned weak from the moment when the market started rebounding. According to the European Automobile Manufacturers’ Association, Hyundai Motor sold 35,296 units in Europe in April, down 4.1 percent from 36,789 units a year ago. Its January-April sales there stood at 144,556 units, down 1.6 percent year on year.
Among global car makers, Hyundai Motor, GM, and Honda were the only companies which suffered a decline in sales in Europe last month.
Hyundai Motor’s market share there also fell by 0.3 percentage point year on year to 3.1 percent. In contrast, Kia Motors’ April sales there rose 4.3 percent year on year to 31,476 units, with its January-April sales rising 6.6 percent to 113,289 units.
