Sorento, Santa Fe, and Carnival Hybrids Sweep Top Three Ranks
Popularity Expected to Continue Amid High Oil Prices and Environmental Regulations
The newly added 2023 hybrid models of Sorento, Santa Fe, and Carnival have been driving domestic sales last year. This is interpreted as being influenced by the rise in diesel prices and the stagnation in electric vehicle demand.
On the 2nd, Kaizyu Data Research Institute reported that Kia's mid-size sport utility vehicle (SUV) Sorento Hybrid recorded sales of 68,068 units last year, ranking first among domestic hybrid models. This accounts for 72% of Sorento's total sales.
Hyundai's mid-size SUV Santa Fe sold 56,901 units, ranking second in hybrid sales. This also accounts for 73% of Santa Fe's total sales. The third place was the Carnival Hybrid, which sold 39,309 units, about 48% of its total sales.
Last month, the Sorento, Santa Fe, and Carnival hybrids surpassed last year's Grandeur Hybrid sales (39,158 units), sweeping the top three spots. This is analyzed as a reflection of the recent trend where consumer preference is shifting from sedans to SUVs.
The Sorento, Santa Fe, and Carnival hybrids were newly added as hybrid models with the partial and full model changes in 2023.
As these models gained popularity, their delivery waiting periods became longer than other models. As of January this year, the delivery waiting period for the Sorento Hybrid was known to be 8 months, significantly longer than the 4 to 5 weeks for the gasoline model. The Carnival Hybrid's delivery waiting period exceeds 12 months. The Santa Fe Hybrid's waiting period is relatively short at 2 months, but still longer compared to the Santa Fe gasoline model (3 weeks).
Traditionally, SUVs and recreational vehicles (RVs) were mainly preferred as diesel vehicles due to their good output relative to low displacement. However, as the relatively cheap diesel prices increased, SUVs also gained popularity as hybrids. Additionally, global environmental regulations have become a key issue, causing diesel vehicles to gradually lose popularity. The electric vehicle market also experienced a chasm (temporary demand stagnation).
Last year, gasoline model sales were 782,521 units, down 12.3% from the previous year, and diesel model sales sharply dropped by 53.6% to 143,134 units. Electric vehicle sales also decreased by 9.7% to 146,883 units compared to the previous year. In contrast, hybrid sales uniquely increased by 64% year-on-year to 386,490 units.
The industry expects the popularity of hybrids to continue for some time, anticipating the continuation of the high oil price era.
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