The Korea Herald


EVs take up 9.3 percent of newly purchased cars in 2023

By Yonhap

Published : Feb. 12, 2024 - 09:28

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Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan.

The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according to the data compiled by the Ministry of Land, Infrastructure and Transport.

The ratio marked a significant rise from just 1.9 percent tallied in 2019.

The figure, however, fell slightly from 9.7 percent posted in 2022, apparently reflecting the growing concerns over the lack of charging infrastructure and higher costs.

Last year, EVs accounted for 22.2 percent of around 30 million cars sold in China, on the back of Beijing's aggressive move to bolster the sales by providing tax cuts and other discounts.

The United States, meanwhile, saw EVs take up 7.2 percent of its domestic automobile sales, trailed by Japan with 2.9 percent and India with 2.1 percent.