SEOUL, March 28 (Korea Bizwire) — South Korean consumers are showing a stronger preference towards hybrids among the major models of domestic carmakers.
According to Hyundai Motor Co., the cumulative sales of its Grandeur hybrid model based on the all-new Grandeur large-size sedan released at the end of last year reached 8,109 units in the January-February period of this year, the highest among domestic eco-friendly vehicles.
The share of hybrid models in the domestic sales of the Grandeur lineup during this period rose to 42.8 percent.
After being released in 2013, the Grandeur Hybrid had a share of about 10 percent in the domestic sales of the Grandeur lineup over the past several years.
However, this share rose to 21.7 percent in 2018 and 30.2 percent last year.
The demand for hybrid models remains solid as an alternative to electric vehicles.
Consumers who remain reluctant to buy electric vehicles due to problems such as charging difficulties are selecting hybrid models as an option based on their economic value.
There were 1.17 million hybrid cars registered in South Korea stood at the end of last year, up 28.9 percent year on year, according to the Ministry of Land, Infrastructure and Transport.
Hyundai’s domestic hybrid sales stood at 8,846 units last month, more than double the value reported a year ago.
Kevin Lee (firstname.lastname@example.org)