Hyundai, Kia's European sales slip 1.8 pc in April

Seoul, May 27 (IANS) Combined vehicle sales of South Korea's leading automaker Hyundai Motor and its affiliate Kia in Europe fell 1.8 per cent from a year earlier in April, industry data showed on Tuesday.

According to the data from the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold a combined 89,890 units in Europe last month.

ACEA data showed Hyundai Motor's sales shed 3.3 percent on-year to 45,227 units, while those of Kia dropped 0.2 percent to 44,663 units, reports Yonhap news agency.

The South Korean automakers sold 357,201 units combined in Europe during the January-April period, down 3.4 percent from the same period last year.

The combined market share of Hyundai and Kia in Europe during the first four months of the year was tallied at 8 percent, down 0.3 percentage point from last year.

Meanwhile, Hyundai Motor temporarily suspended production of its Ioniq 5 and Kona electric vehicles (EVs) at its main domestic plant last month for a week, as weakening overseas demand continues to weigh on exports.

The automaker shut down Line 12 at its Plant 1 in Ulsan, 305 kilometers southeast of Seoul, where the two EV models are assembled, citing declines in orders from key export markets, including Europe, Canada and the United States.

The drop followed a shift of government EV policy changes abroad. Canada and several European countries, including Germany, have scrapped or scaled back EV subsidies, while the U.S. is facing renewed uncertainty from steep tariff threats under the Donald Trump administration.

Hyundai Motor has attempted to counter sluggish demand by offering zero-interest financing deals in North America and down payment assistance in markets like Germany and Britain, but with limited success, according to sources.

This marked the second temporary production halt this year, following a similar five-day suspension in February due to a slowdown in global EV demand amid policy shifts and market transitions.

--IANS

na/