Hyundai Motor's slide accelerates in Europe, China

Hyundai Motor Group is losing ground in key overseas markets amid declining sales in Europe and a renewed slump in China, raising concerns about its global strategy beyond the United States. Hyundai Motor and Kia sold around 770,000 vehicles in Europe from January to September, down 3.4 percent from a year earlier, according to data from the European Automobile Manufacturers’ Association. The decline contrasted with a 6.3 percent rise in the overall European market, dragging the group’s combined market share down 0.7 percentage point to 7.3 percent during the same period. The weakness largely stemmed from Hyundai Motor, which saw European sales fell 13.2 percent to around 349,000 vehicles. Kia’s sales rose 6.6 percent to around 421,900, allowing the affiliate to overtake Hyundai as the group’s bigger seller in the region. The latest data indicates growing pressure on Hyundai Motor Group, as established European brands and Chinese manufacturers compete more aggressively on electric vehicles (EVs), pricing and model selection. The group’s position in Europe’s EV market has also