Hyundai Motor's global all-electric market-share rank slips

Industry

Published: 23 Aug. 2021, 18:28 Updated: 23 Aug. 2021, 18:31

Hyundai Motor's global all-electric market-share rank slips

Hyundai Motor ranked No. 6 in the global all-electric vehicle market in the first half, a step down from last year.

Hyundai Motor sold 51,300 pure electric vehicles (EVs) from January to June this year, up 75.6 percent on year, according to Seoul-based market tracker SNE Research Monday.

Despite the growth, its global market share slipped to 2.9 percent from 4.5 percent at the end of 2020.

Tesla, which retained the top spot in the first half, sold 396,200 pure EVs, up 118.2 percent on year. Its market share was 22.2 percent compared to 27.7 percent at the end of 2020.

Chinese EV manufacturers were especially strong.

Liuzhou, China’s SAIC-GM-Wuling, a joint venture between SAIC Motor, Liuzhou Wuling Motors and General Motors, was No. 2, selling 191,900 pure EVs, up 1,388 percent on year.

It grabbed 10.7 percent of the global pure EV market compared to 2 percent at the end of 2020.

The Hongguang micro EV was a particularly strong seller, according to SNE Research.

Shenzhen’s BYD was No. 3, with a 5.4 percent market share, up from 5.2 percent at the end of 2020.

Volkswagen was No. 4, with 4.8 percent market share, followed by Baoding, China’s Great Wall Motors, with a 2.9 percent market share.

“Hyundai Motor’s Kona Electric, Ioniq 5 and the electric version of the Porter pick-up truck all sold well in the first half, but the growth rate fell short of the industry average,” said SNE Research in a release Monday.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]