Selling cars in Europe today requires a delicate balancing act. On one hand, combustion-engine vehicles remain the preferred choice among buyers. In the European Union, electric cars held only a 15.3% market share in the first four months of the year, according to data from the European Automobile Manufacturers' Association (ACEA). On the other hand, tougher legislation is forcing automakers to accelerate the rollout of EVs. Therein lies the problem.
Kia says it must tread carefully because favoring either side could backfire. Carlos Lahoz, the company’s Vice President of Sales in Europe, explained to Automotive News Europe why prioritizing ICE over EV, or the reverse, should be avoided: “If we rely too much on combustion cars, we risk not reaching the CO2 targets and having to pay fines. If we push EV sales too much, we end up denting our profit margins.”
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