Total Accumulated Vehicle Registrations Reach 25.21 Million... Decline in Diesel Cars
The cumulative number of eco-friendly vehicles registered has surpassed 5% of the total registered vehicles. New registrations of eco-friendly cars continue to increase steadily, with one out of every ten newly registered vehicles being electric.
The Ministry of Land, Infrastructure and Transport announced on the 21st that the cumulative number of registered vehicles in the second quarter of 2022 reached 25,215,000 units, an increase of 0.6% (145,000 units) compared to the previous quarter, with one vehicle owned per 2.05 people.
By fuel type, eco-friendly vehicles (electric, hydrogen, hybrid) increased by 8.5% (116,000 units) compared to the previous quarter, accounting for 5.4% (1,364,000 units) of the total registered vehicles.
Electric vehicles numbered 298,000, up 13.5% from the previous quarter; hydrogen vehicles numbered 24,000, up 14.2%; and hybrid vehicles numbered 1,042,000, up 7.0% (72,782 units) respectively.
Gasoline vehicles increased by 0.7% (87,000 units) compared to the previous quarter, but diesel and LPG vehicles decreased by 0.5% (60,000 units). Diesel vehicles have been on a decline since February 2021.
Despite delays in vehicle deliveries, new vehicle registrations in the second quarter reached 429,000 units, an 8.6% increase from the previous quarter but an 11.3% decrease compared to the same period last year.
New registrations of electric vehicles reached 41,000 units, a 32.3% increase from the previous quarter.
Looking at new registrations by origin, region, vehicle type, and manufacturer, the domestic share of new electric vehicle registrations in the second quarter was 78.0% (32,000 units), down from 79.0% (22,000 units) in the previous quarter.
Regionally, electric vehicles (132,216 units) were predominantly registered in Gyeonggi, Seoul, and Jeju-do, accounting for 44.3% of the total.
By manufacturer, Hyundai led with 43.8%, followed by Kia at 25.6%, and Tesla at 13.3% in cumulative registration shares.
As of June 2022, the top cumulative registered electric vehicle models were Ioniq 5 (12.3%, 36,740 units), Porter II (11.4%, 33,934 units), Kona Electric (10.8%, 32,341 units), Tesla Model 3 (8.7%, 26,143 units), and Bongo III (7.8%, 23,404 units).
New electric vehicle registrations in the second quarter totaled 41,152 units, with the EV6 (8,214 units), Ioniq 5 (7,464 units), Porter II (cargo, 5,441 units), Bongo III (4,039 units), and GV60 (2,053 units) leading.
The cumulative market share by origin is 87.8% domestic vehicles (22,151,000 units) and 12.2% imported vehicles (3,064,000 units), showing an increasing trend in the share of imported cars.
Park Ji-hong, Director of the Automobile Policy Division at the Ministry of Land, Infrastructure and Transport, stated, "Diesel vehicles have shown a clear decline since February 2021, while eco-friendly vehicles such as electric and hydrogen cars are recording higher growth rates compared to internal combustion engine vehicles. We will continue to provide detailed automobile registration statistics tailored to public demand to enable the establishment and implementation of automobile policies that align with market trends and changes in the era."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
