Green car market led by EVs, Hybrids

Published : Aug 3, 2017 - 16:58 Updated : Aug 3, 2017 - 17:55

South Korea’s green car market grew 23.7 percent on-year in the first half of the year, led by domestic brands’ electric vehicles and hybrids from Japanese carmakers.

According to data compiled by the Korea Automobile Manufacturers Association and Korea Automobile Importers and Distributors Association, 40,978 eco-friendly vehicles were sold here from January to June.

(Yonhap)

Though still small in number, the growth of green cars was considered fast. In contrast, the number of cars across all types except commercial trucks sold in the first six months dropped 3.4 percent in the same period. The figure included both local and foreign brands.

Nearly 90 percent of green cars were hybrids, while the remaining were electric vehicles, the report said. EVs were not the green cars most favored by motorists, but their growth was noticeable, particularly electric-powered cars by domestic brands, which grew 5.7 times this year.

Hyundai sold 2,939 units of the Ioniq Electric, 22 times more than the mere 131 sold last year, while 632 units of the Soul EV by its sister company Kia Motors were sold.

An electric version of the SM3 by Renault Samsung also saw its sales grow, from 213 to 404 units, while GM Korea sold 280 units of the Bolt EV launched in April.

Hybrids were dominant in the green car market, and the presence of foreign brands grew larger, the report said. The number of hybrids by foreign carmakers grew 57.9 percent to 10,617, led by Japanese brands. Lexus sold a total 3,776 of the ES300h, an electric sedan by the luxury carmaker, while Toyota sold 1,181 of the Accord hybrid.

Meanwhile, sales of imported electric vehicles dropped more than 60 percent to 42 units, the report said.

By Cho Chung-un (christory@heraldcorp.com)