Registered Vehicles 25,550 Units... 25.3% Decrease Compared to Previous Year
Domestic electric vehicle sales have decreased year-on-year for the first time in the first quarter, while the popularity of hybrid vehicles is increasing.
According to Kaizyu Data Research Institute on the 4th, the number of electric vehicle registrations in South Korea from January to March this year was 25,550 units, down 25.3% from the previous year. Until now, the first quarter figures had shown an increasing trend with 10,763 units in 2020, 13,273 units in 2021, 27,853 units in 2022, and 34,186 units in 2023.
Demand for hybrid vehicles is rising. In the first quarter, 99,832 hybrid vehicles were registered, marking a 46.3% increase. During the same period, sales of other fuel vehicles such as gasoline (-18.7%), diesel (-55.7%), electric (-25.3%), and other fuels (-37.7%) declined.
The delivery period for hybrid vehicle models has become longer compared to other fuel models. As of this month, the delivery waiting period for the Avante 1.6 gasoline model was 4 months, whereas the hybrid model had a waiting period of over 12 months. For the Sonata and Santa Fe, the waiting period for hybrid models was more than 5 months longer than for gasoline models. For the Kia Sorento, the delivery period for gasoline and diesel models was 1.5 months, but the hybrid model had a waiting period of 7 to 8 months.
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