Hyundai renews ICE models to hedge against EV volatility

Brand plans to go big on fleets and small cars to hedge its bets as uptake of electric cars slows Hyundai will continue to launch new cars across all fuel types and not shut itself out of any part of the market, its top executive in Europe has confirmed. Xavier Martinet, who took the CEO role at Hyundai Europe in January after moving from Dacia, is “convinced there is a huge untapped potential” in Hyundai in Europe – something proven by the fact that the brand’s performance in the region lags behind that of other major markets in the world, such as the US and India. Specific areas of improvement that Hyundai needs to “seize” include its performance in fleet sales, which lag that of its private sales, and in greater penetration of the B-segment. Heavily refreshed versions of the compact i20 and Bayon are planned to help boost sales here, alongside a production version of the recently unveiled Concept Three. “The B-segment has a huge volume in Europe and we’ll be launching three new products," said Martinet. "There’s clearly an opportunity to grab some market share and conquer new customers.” He said that while Hyundai will be “the only brand in Europe to have a complete range of EVs across segments”, from the Inster city car to the Ioniq 9 full-size SUV once the Concept Three makes production next year, it still needs to invest in hybrids and ICE cars, due to the slower than expected uptake of EVs in Europe. “If customers want an EV, they will find anything they want in the Hyundai line-up," Martinet said. "But if the EV transition doesn’t happen as fast as we all thought, we need to be able to offer what customers want in the non-EV market. “The renewal of the i20 and renewal of Bayon will have a hybrid offer, as this is what customers are looking for. We’re ready and willing to give customers what they want [with multiple powertrain options] and let them choose.” This is particularly important in the here and now, said Martinet, as the evolution of EV sales figures is “more regulation-driven than customer-driven, and that’s the major issue we’re facing”. He added: “This is why we need to propose something to all the customers in the market. If I have market share on EV, hybrid and ICE, I’m hedging myself against volatility on the market.” More broadly, Martinet said Hyundai will continue to invest heavily in design and push the design boundaries of its car as design is one of the best ways to “differentiate yourself positively”. “If you’re the second preferred vehicle from customers, you’re the first one to not buy.”

Comments

automobile news

Renault 4 gains van variant with 254-mile range

Autocar

Comments

Similar News

Hyundai ICE raid in Georgia leaves Asian executives shaken by Trump's mixed signals

Wild Hyundai Concept Three previews Cupra Born rival for 2026

Hyundai to preview Ioniq 3 with radical electric hot hatch concept

First look at Hyundai's Renault 4 rival before September debut

Alien concept: Driving a Hyundai pick-up to Area 51

2026 Hyundai Tucson taps Defender appeal with rugged new look

automobile news

Renault 4 gains van variant with 254-mile range

Renault Megane to get RS flagship and major 'hot hatch' makeover

JLR cyber attack: production won't restart until 24 Sept at earliest

Renault Megane poised for RS 'hot hatch' reinvention

Toyota Corolla

Gen X, millennial buyers cause boom in modern classic values

Hyundai renews ICE models to hedge against EV volatility

Ineos Grenadier

New Geely EX5 lands in UK as £32k Skoda Enyaq rival

JLR still unable to restart production as MPs call for government help

How AI is transforming the dark art of tyre design

Mercedes-AMG priming electric two-door GT coupe

Honda CR-Z – is this 50mpg coupe a misunderstood hidden gem?

The 'pious' pioneer: how the Toyota Prius changed motoring

Driving instructors deserve more love

Aston Martin Vantage vs Ferrari Roma vs McLaren Artura

Autocar Meets author and historian Karl Ludsvigsen

Two electric MINIs get the John Cooper Works treatment

Nissan Micra

GWM Poer 300

Lotus Elise S1 reimagined as 600kg, central-seat supercar

Cyber attack could be costing JLR £5 million a day

Skoda rules out Citigo successor based on Volkswagen ID 1

Exclusive: Crucial Ford 'Focus' SUV due 2027 to lead Europe fightback

BYD's Ferrari rival confirmed for UK launch in 2027

Industry plans for new small, affordable car class backed by EU

GWM Ora Cat revealed as crossover sibling to 03 hatchback

Why are designers so obsessed with 'challenging' styling?

Renault Captur

Crucial Ford 'Focus' SUV due 2027 to lead Europe fightback

Competition: Win two nights in Paris courtesy of Renault

New Renault boss: Europe needs to focus on cutting EV prices

The best PHEV company cars - 10 hybrids that will cut your BIK bill

Mercedes C-Class EV to rival new BMW i3 with 497-mile range

Drivers of Change: New Talent 2025 – entry deadline extended

2026 Mercedes C-Class EV to rival new BMW i3 with 497-mile range

JLR confirms data affected in cyber attack

MG 3 suffers 'critical safety failure' in Euro NCAP crash test

Munich Motor Show, 94mpg Audi A2 and saving the car industry

RML GT Hypercar driven: Is this 907bhp monster the ultimate 911?

Ferrari Testarossa returns as 1035bhp SF90 replacement

Skoda seven-seat EV due in 2026 as brand's new flagship

Solid-state Mercedes EQS drives 749 miles without charging stop

Stale Mercedes designs are underselling revolutionary cars

Munich 2025: On the frontline of Europe's fight for automotive survival

Return of Renaultsport? Brand to show 'proposals' for hot Renaults

Skoda "exploring all powertrain options" for radical next-gen Octavia

Cupra eyes fresh growth with expanded line-up and new markets

Wild Hyundai Concept Three previews Cupra Born rival for 2026

Polestar urges Europe not to postpone 2035 ICE car ban

2026 Renault Megane to be reinvented with "hot hatch" look

Rivian lays off hundreds of employees ahead of the end of EV tax credits

Cupra goes radical with 489bhp range-extender sports SUV

Polestar 5 prototype review

WATCH: Most important new cars of the 2025 Munich Motor Show

Chinese tech firm Dreame could build car factory near Berlin

VW Group aims for road-ready solid-state battery by 2030

Future of Skoda Octavia revealed with radical EV estate concept

Polestar puts 6 sports car on ice as it focuses on 7 and next-gen 2

2027 Renault Clio revealed with bold new look and petrol power