Domestic hybrid sales surge amid global eco-friendly craze

Hyundai Motor Grandeur Hybrid / Courtesy of Hyundai Motor Group

By Kim Hyun-bin

Sales of hybrid vehicles in the domestic automobile market are benefiting greatly from the global eco-friendly boom.

According to the industry, Hyundai Motor sold 61,655 hybrid vehicles in Korea between January and November, an increase of 7.1 percent from the same period last year, despite internal combustion engine and electric vehicle (EV) sales dropping 8.2 percent during the period.

Among Hyundai's hybrid cars, the best-selling model is the Grandeur Hybrid. This year, 24,775 were sold. It was followed by the Tucson Hybrid with 14,451 and the Santa Fe Hybrid with 8,197 sold.

Sales of Kia's hybrid vehicles also increased. Kia sold a total of 72,136 hybrid vehicles in the domestic market this year, up 27 percent from the same period last year. This figure shows remarkable growth compared to Kia's overall domestic sales volume, which decreased by 5.1 percent compared to the previous year.

The Sorento Hybrid took the top spot in sales among Kia's hybrid cars. The Sorento Hybrid sold 30,315 this year alone, driving Kia's hybrid sales, followed by 15,839 of the K8 Hybrid and 1,096 of the Niro Hybrid.

This increase in hybrid vehicle sales is interpreted as a result of the strong eco-friendly car craze. Those who feel the burden of switching from internal combustion engine vehicles to EVs appear to be choosing hybrid vehicles, which are cheaper than EVs, do not have to be charged and have various eco-friendly benefits.

However, it is unclear whether this trend will continue because the government is pursuing an overall direction to reduce or eliminate support for hybrid vehicles. This year, the acquisition tax reduction for hybrid vehicles was reduced from 900,000 won to 400,000 won, and the purchase subsidy paid for plug-in hybrids has also been eliminated. In addition, the exemption from individual consumption tax given to hybrid buyers is expected to end next year, and hybrid vehicles will be excluded from the list of eco-friendly vehicles from 2023.