SEOUL, Aug. 22 (Korea Bizwire) – The hybrid and battery electric vehicle (EV) market in South Korea continues to expand rapidly. The domestic market for hybrid and battery electric cars (combined new acquisition prices) reached 6.12 trillion won (US$4.56 billion) and 2.27 trillion won, respectively, in the first half of this year, according to data [...]
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 [...]
SEOUL, Jul. 14 (Korea Bizwire) — Already unpopular due to their alleged propensity to generate air pollutant particles, a rumored “diesel fuel tax” that may come into effect in the future has customers gravitating away from diesel cars. A spokesperson for the Korean Automobile Manufacturing Association gave a number of reasons for the decreasing popularity of diesel [...]
SEOUL, Jan. 25 (Korea Bizwire) – The number of hybrid cars sold in the South Korean market hit a record high in 2015, data showed Monday, amid increased awareness of environmentally friendly vehicles. Sales of hybrid cars in the country reached 38,978 units in 2015, up 7 percent from a year earlier, according to the [...]