Eco-friendly car sales set to reach all-time high

Fueled by growing demand for eco-friendly cars with improved fuel efficiency, sales of hybrid and electric vehicles in South Korea are set to reach an all-time high in 2015, according to industry data Thursday.

A total of 15,953 hybrid and electric vehicles were sold in the country during the first half of this year, up by roughly 1,000 vehicles compared to the same period last year, according to data compiled by the Korea Automobile Manufacturers Association.

If sales continue at the current pace, the number of green cars sold this year is forecast to easily surpass the record set in 2012, when 31,236 hybrid vehicles were sold, industry watchers said, adding that annual sales are forecast to reach around 33,000 to 34,000 vehicles in 2015.

Eco-friendly car sales are expected to further take off in the coming months, as local automakers are scheduled to unveil their new hybrid models.

Hyundai Motor plans to release its first originally-built hybrid model to rival Toyota’s top-selling hybrid car Prius within this year. Kia Motors is set to launch a hybrid version of the K5 by the end of 2015 as well.

By Sohn Ji-young (jys@heraldcorp.com)