SEOUL, Apr. 16 (Korea Bizwire) — In a significant shift within South Korea’s imported car market, hybrid vehicle sales surpassed gasoline-powered models for the first time in the first quarter of this year, signaling a robust trend favoring hybrid offerings. Following the initial milestone in November 2023, when hybrid cars outsold gasoline variants on a monthly [...]
SEOUL, Mar. 21 (Korea Bizwire) – South Korea’s exports of eco-friendly vehicles, including hybrid and electric cars, experienced a significant decline in February, marking the first contraction in over three years, a concerning trend given the country’s rising dependence on electric vehicle (EV) exports. According to data released on March 20 by the Korea Automobile Manufacturers [...]
SEOUL, Mar. 4 (Korea Bizwire) — The number of eco-friendly car registrations in South Korea surpassed that of liquefied petroleum gas (LPG) models for the first time last year, according to data Monday. According to data from the Ministry of Land, Infrastructure and Transport, cumulative registration of domestic eco-friendly cars, such as hybrids, electric and [...]
SEOUL, Dec. 29 (Korea Bizwire) — Hyundai Motor Co.’s Grandeur sedan has led South Korea’s hybrid car market in terms of sales throughout most of 2023, industry data showed Friday. According to the Korea Automobile Manufacturers Association, Grandeur’s hybrid variant sold 57,107 units during the January-November period of this year, representing 198.8 percent sales growth [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea has witnessed a record number of hybrid electric vehicle (HEV) registrations this year, sparking increased interest in upcoming hybrid models. The Hyundai Motor Group recently completed the development of an advanced hybrid system with improved fuel efficiency. High expectations are set for Hyundai’s luxury brand, Genesis, to potentially [...]
SEOUL, Dec. 6 (Korea Bizwire) – The prevailing trend in the automotive market is currently centered around the craze for plug-in hybrid electric vehicles (PHEV), marking a notable shift in consumer preferences. Despite the somewhat sluggish sales of fully electric vehicles, hybrids, previously considered a passing fad, are experiencing a resurgence. This revival is evident in [...]
SEOUL, July 10 (Korea Bizwire) – The preference for hybrid models among South Korean consumers has led to the share of Hyundai Motor Co.’s Grandeur sedan’s hybrid models surpassing that of internal combustion engine models. According to the carmaker, hybrid models accounted for 33,056 units or 52.5 percent of the Grandeur’s domestic sales of 62,970 units [...]
SEOUL, Jan. 24 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Monday it aims to sell 25,000 units of the all-new Niro SUV model in the domestic market this year. Last week, Kia received nearly 18,000 preorders for the environment-friendly Niro, equipped with a 1.6-liter gasoline hybrid engine and a 32 kilowatt motor [...]
SEOUL, May 4 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, on Tuesday launched the hybrid version of the K8 sedan in the domestic market, completing a four-model lineup for the vehicle. The K8 hybrid comes with a 1.6-liter gasoline turbo hybrid engine, adding to the lineup of 2.5-liter gasoline, 3.5 gasoline and 3.5 [...]
SEOUL, Aug. 13 (Korea Bizwire) – British American Tobacco (BAT) Korea on Tuesday launched a new hybrid e-cigarette product to capture a share of the growing “potentially less risk” toxic tobacco market and expand its presence in the country. BAT Korea chose South Korea as the first market to promote its glo sens product, a combination [...]