Diesel Cars Drop in Popularity Due to EVs and Soaring Fuel Prices | Be Korea-savvy

Diesel Cars Drop in Popularity Due to EVs and Soaring Fuel Prices


SEOUL, April 11 (Korea Bizwire)Diesel cars are gradually being sidelined as electric vehicles (EVs) and other eco-friendly vehicles are gaining popularity and the price of diesel continues to skyrocket after the breakout of the war in Ukraine.

Opinet, an oil prices information provider operated by the state-run Korea National Oil Corp., reported that the average price of diesel in the country reached 1,910.43 won per liter, closing in on the price of gasoline (1,988 won per liter) after rising by 9 percent in the last 30 days.

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Consequently, diesel car sales have been dropping.

27,906 units of diesel-powered vehicle were newly registered last month, which was 37.8 percent less than the same month last year (44,839 units), according to Seoul-based Carisyou Data Lab.

Diesel car prices are also dropping in the used car market. Used car retailer K Car anticipates that the prices of a number of diesel cars will drop by as much as 7 percent from last month.

Image Credit: Yonhap / photonews@koreabizwire.com

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