Hybrid car sales in Korea peaked in 2015

Hybrid car sales in Korea peaked in 2015

A record-breaking number of hybrid cars were sold in South Korea in 2015, according to industry data Monday.

Sales of hybrid cars in the country reached 38,978 units in 2015, up 7 percent from a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association and Korea Automobile Importers and Distributors Association.

The figure broke the previous record of 38,343 units logged in 2012. In 2008, South Korea’s market for hybrid cars had stood at 1,070 units.

Hyundai Motor, the country‘s top carmaker, accounted for 22,596 units, followed by Kia Motors and GM Korea with 6,505 units and 44 units, respectively. Toyota Motor sold 9,039 units of hybrid cars here.

Industry watchers said the growth is significant as it came despite declining crude oil prices that in the past attracted consumers to traditional gas automobiles, adding that consumers seem to have more awareness for the environment.

Sales of hybrid cars in the country are expected to exceed 50,000 units in 2016 following the release of new models.

Hyundai Motor kicked off the sales of the Ioniq hybrid earlier this month, while Kia Motors also plans to launch the country‘s first small hybrid-sport utility vehicle around March, dubbed the Niro.

Toyota will release the fourth-generation Prius hybrid in South Korea around March.

Source:http://www.koreaherald.com/view.php?ud=20160125000460


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