SEOUL, March 4 (Korea Bizwire) — Sales of electric vehicles (EVs) in South Korea surged last month following the introduction of new subsidy programs.
Automakers on Wednesday announced that a total of 12,399 EVs were sold in February, which was 1,113.2 percent higher than the previous month (1,022 units).
It is not uncommon to see a spike in sales between January and February since that’s when the central government and local authorities decide on the amount of subsidies they will provide for purchasing EVs.
Many consumers wait until February, when the subsidies are set, before they commit to purchase.
The Korea Automobile Manufacturers Association reported that last year’s EV sales also surged between January (195 units) and February (3,856 units). By March, the sales reached 5,339 units.
EV sales in February of this year more than tripled the tally from last year, largely due to a newer, wider selection of EVs and higher consumer interest.
Sorted by brand, Hyundai Motor Co. topped the charts with 7,413 units sold, followed by Kia Corp. (4,827 units), Renault Samsung Motors Corp. (158 units) and GM Korea Co. (1 unit).
H. M. Kang (email@example.com)