Hyundai Motor Group's EV Share Outside China Slips to 8.0%

Hyundai Motor Group sold 498,000 electric vehicles outside China from January to August this year, up 20.9% year-on-year, but its market share slipped from 8.5% to 8.0%, according to SNE Research data reported by inews24.com.

Geely Group sold 419,000 units over the same period, up 61.8%, lifting its share from 5.4% to 6.7%. The market-share gap between Hyundai Motor Group and Geely Group narrowed from 3.1 percentage points last year to 1.3 percentage points.

Total global BEV and PHEV deliveries outside China reached 6.223 million units from January to August, up 28.9% year-on-year. BYD remained in third place globally with 733,200 units outside China, up 76.5%.

Among other groups, Chery Group sold 268,000 units outside China, up 310.1%, entering ninth place among the top ten groups. The combined non-China market share of BYD, Geely and Chery rose from 15.3% last year to 22.8% this year.

Volkswagen Group delivered 825,000 units, up 4.3%, while its share fell from 16.4% to 13.3%. Tesla delivered 762,000 units, up 20.1%, with a 12.3% share.

Prior-period context

In the same period last year, the sales gap between Hyundai Motor Group and BYD outside China was only about 3,000 units, while BYD's market share rose from 8.6% to 11.8%, widening its sales gap with Hyundai Motor Group to about 235,000 units. At that time, Hyundai Motor Group's North American deliveries fell 23.4% due to reduced subsidies and tax credit effects, Chery Group increased European deliveries 4.6-fold year-on-year with its export brands OMODA and JAECOO, and the gap between Tesla and BYD in third place narrowed to about 30,000 units.