2·4WD and Three Types of Plug-in Hybrids
Targeting Hybrid Demand, Customers Hesitant About Electric Vehicles
The 5th generation fully redesigned Toyota Prius, the original hybrid vehicle (HEV), will land in Korea this November. Japanese car manufacturers plan to overcome the impact of the ‘No Japan’ movement that started in 2019 by promoting hybrid vehicles in the second half of this year.
According to comprehensive reporting on the 16th, this vehicle will be officially launched in Korea in November. It will be displayed in showrooms from October and pre-orders will be accepted. Reservation deposits have already been made through various dealers, and waiting numbers are being assigned. The Ministry of Environment’s automobile emission and noise certification, which must be completed before the new car launch, was completed on the 10th. A representative from Toyota Motor Korea said, “The Ministry of Environment certification is finished, but there are still many preparations to be made,” and added, “We are working towards a goal of launching within the year.”
The model will be released in three types as before: gasoline hybrid-based 2WD and 4WD, and plug-in hybrid (PHEV). Looking at the prices already released in the U.S., the cheapest LE trim for the front-wheel-drive model is $27,450 (approximately 36.65 million KRW). The previous generation Prius 2WD model was priced at 33.97 million KRW (including VAT). There is a high possibility that the price will increase by more than 3 million KRW.
This Prius has reduced the body length by 46 mm compared to the previous generation. Instead, the interior space has been widened by 22 mm, and the body height lowered by 50 mm. The wheelbase, which is directly related to the interior space, has been extended by 50 mm. Fuel efficiency (based on the LE trim) has increased from a combined 22.4 km/l to 24.2 km/l. Maximum output has also increased from 122 horsepower to 196 horsepower.
The Prius, launched in 1997, is the world’s first mass-produced hybrid passenger car. Since its launch, cumulative sales have exceeded 15 million units, making it one of Toyota’s representative models.
Toyota and other Japanese car manufacturers plan to overcome the ‘No Japan’ impact that has continued since 2019 by introducing a large number of hybrid vehicles this year. Toyota Motor Korea will officially launch Japan’s national sedan, the Crown, on the 5th of next month. This vehicle will also be imported only as a hybrid. Among the eight new models this year, six (RAV4, RX, Alphard, Crown, Highlander, Prius) are hybrids. Honda Korea is also contributing. In the second half of this year, it will bring in hybrid models of the sport utility vehicle (SUV) CR-V and the flagship Accord.
Both companies seem to still judge that there is strong demand for hybrid vehicles in the domestic market. According to data from the Korea Automobile Mobility Industry Association, hybrid vehicle sales last year were 274,282 units. This is 109,958 units more than electric vehicles (164,324 units). This targets consumers who hesitate to purchase electric vehicles due to reasons such as charging infrastructure. According to a survey conducted by Deloitte Korea from September to October last year targeting more than 26,000 consumers in 24 countries including Korea, 40% of Korean respondents preferred hybrids. In contrast, the preference for electric vehicles was only 17%.
The outlook for Japanese car manufacturers who are putting hybrid vehicles front and center is bright this year. Sales until April this year (Toyota Motor Korea, Lexus, Honda Korea) reached 7,060 units. This is about 42% of last year’s total sales (16,991 units). Compared to the same period last year (4,644 units), it is an increase of 52%.
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