Kia targets sales, market share jump in Europe by 2028

[Photo provided by Kia Corp.]

Kia Corp. recently announced ambitious goals for the European market that are centered on eco-friendly and purpose-built vehicles (PBVs).

The Seoul-based automaker unveiled its growth plans during its first dealer convention in Europe in eight years, which was held from May 29th to 30th, 2024, in Berlin, Germany. The event was attended by over 2,900 dealers from 41 European countries, including corporate entities and dealership executives. Key officials from Kia, including Kia CEO Song Ho-sung, Kia Europe President & CEO Marc Hedrich, and Executive Vice President and Head of Kia Global Design Karim Antoine Habib, were at the event to share the automaker‘s vision and strategy for products, design, marketing, and sales in Europe.

Kia hit a record European sales volume in 2022, when it sold 572,297 units and secured a 4.5 percent market share in the continent to see a 56 percent sales growth in Europe from 2015 to 2023. Of the total vehicles sold in 2023, 217,155 were eco-friendly models, accounting for 37.9 percent of the total sales.

Kia plans to leverage the growth with an emphasis on the eco-friendly and PBV segments, and aims to sell 800,000 units a year in Europe and achieve a 5 percent market share by 2028. A crucial part of the plan involves the launch of its compact electric sport utility vehicle (SUV), the EV3, later in 2024.

With its competitive pricing that corroborates with its brand and products, Kia aims to have a complete lineup of electric vehicles by 2026 to reinforce its ranking as a leading automaker in the European green car market.