SEJONG, Oct. 4 (Korea Bizwire) — The government offers subsidies when citizens decide to buy eco-friendly vehicles. However, 3 out of every 10 government-supported vehicles are second cars. In an annual parliamentary audit conducted by the Ministry of Environment Wednesday, Rep. Jeon Hyun-hee of the ruling Democratic Party said that the public tends to have [...]
SEOUL, Dec. 25 (Korea Bizwire) — Lexus ES300h gasoline hybrid model has become the first imported hybrid to post accumulated sales exceeding 20,000 units in South Korea, the Japanese carmaker’s local office said Monday. The ES300h was launched in the Korean market in 2012, with total sales hitting 6,112 models sold last year, accounting for [...]
SEOUL, May 10 (Korea Bizwire) – Sales of midsize hybrid cars were halved in the first four months of this year, mainly due to existing vehicle models becoming dated and the popularity of new non-hybrid vehicles, market watchers said Sunday. Data provided by carmakers showed sales of the Sonata, K5 and Malibu hit 2,268 units at the end of April, down a sharp 49.7 percent from [...]
SEOUL, Sept. 19 (Korea Bizwire) – South Korea’s market for environmentally friendly cars expanded at a rapid pace in the first half of 2016, also overtaking that of Germany, the largest producer of green vehicles in Europe, industry data showed Monday. In the first six months of the year, South Korea-based manufacturers of environmentally friendly [...]
SEOUL, June 24 (Korea Bizwire) – Diesel cars are at the center of attention in Korea with the ongoing investigation into Audi-Volkswagen’s emissions scandal, and the government’s recent labelling of diesel vehicles as major producers of fine dust, which has become dangerously prevalent in recent years. In a recent study conducted by the Ministry of [...]
SEOUL, May 11 (Korea Bizwire) – Sales of hybrid cars in South Korea hit an all-time high last month amid growing interest in environmentally friendly vehicles, industry data showed Wednesday. Sales of hybrid cars here reached 7,454 units last month, breaching the previous monthly record of 5,157 units set in December, according to the data by [...]
SEOUL, April 28 (Korea Bizwire) – Domestic sales of hybrid vehicles in South Korea increased in the first quarter from a year earlier despite unfavorable market conditions caused by the prolonged weakness in energy prices, industry data showed Thursday. Carmakers operating factories in South Korea sold a combined 8,117 hybrid electric vehicles here during the [...]
SEOUL, Nov.30 (Korea Bizwire) – Although sales of foreign diesel cars froze after it was revealed that Volkswagen cars were ‘cheating’ on emissions tests, sales of environmentally friendly hybrid cars are rising fast. Industry watchers even say that a new ‘era of hybrid cars’ is beginning, as Hyundai Motor and Toyota both saw their highest [...]
SEOUL, July 31 (Korea Bizwire) – In spite of low oil prices, hybrid car fever is fierce in the Korean automotive market, fueled by growing demand for eco-friendly vehicles. Thanks to the fever, sales of hybrid cars in Korea are expected to reach an all-time high this year. According to industry watchers, 15,953 units of [...]
SEOUL, Sep. 24 (Korea Bizwire) — The Korean government and the ruling Saenuri party laid out a plan on September 23 that they would provide the local drivers who buy low emission vehicles with a handsome US$3,000 subsidy. The government and the party decided to postpone the implementation of a low carbon vehicle incentive scheme [...]