SEOUL, Oct. 31 (Korea Bizwire) — In the midst of a slight increase in the nation’s cumulative car registrations in the third quarter of this year, the number of new registrations of compact cars and eco-friendly cars took an upturn, data showed Sunday.
The nation’s cumulative car registrations stood at 25,356,000 in the third quarter of this year, up 140,000 units from a quarter ago, according to the Ministry of Land, Infrastructure and Transport.
In other words, one car is registered per 2.03 citizens.
The number of new car registrations for the third quarter stood at 429,000 units, down 0.1 percent quarter on quarter but up 5.3 percent year on year.
The number of new registrations for compact cars stood at 101,130 units, up 3.7 percent compared to a year ago.
The number of new registrations for electric vehicles (EVs) increased by 23.6 percent quarter on quarter to 51,000 units. Import EVs grabbed a share of 28.5 percent, up from the previous quarter’s 22 percent.
In terms of third-quarter EV market share, Hyundai Motor Co. ranked first with 42.8 percent, followed by Kia Corp. at 26.6 percent and Tesla at 13.2 percent.
The number of new registrations for eco-friendly cars such as electric, hydrogen and hybrid vehicles increased by 8.3 percent or 113,000 units compared to a quarter ago, with their cumulative registrations accounting for 5.8 percent of the total.
The number of cumulative EV registrations stood at 347,000 units, up 16.3 percent from a quarter ago, including 27,000 hydrogen vehicles, up 10.8 percent quarter on quarter, and 1,104,000 hybrid vehicles, up 5.9 percent quarter on quarter.
J. S. Shin (email@example.com)