Market tracker CarIsYou said on Thursday that hybrid vehicle registrations in South Korea increased 41% year-on-year in the first four months of this year despite a slowdown in pure electric vehicle sales.
CarIsYou said in a report that the number of newly registered gasoline hybrids and plug-in hybrids in South Korea jumped to 129,201 in the first four months of this year from 91,750 in the same period last year.
Ninety-one percent of newly registered hybrid cars were from Hyundai Motor and its smaller subsidiary Kia Motors. Japanese brands – Honda, Toyota and its luxury brand Lexus – accounted for 5.7%. The rest were other brands.
CarIsYou said: Demand for gasoline hybrid models is expected to remain strong for the time being. But in the long term, if governments come up with solutions to high electric vehicle prices and insufficient charging infrastructure, electric vehicle sales will rebound.
South Korea\’s hybrid car sales soared 41% year-on-year in the first four months
Market tracker CarIsYou said on Thursday that hybrid vehicle registrations in South Korea increased 41% year-on-year in the first four months of this year amid a slowdown in pure electric vehicle sales.
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