Korea’s hybrid car market continues to grow despite the decline in oil prices.Hyundai Motor and Kia Motors have four hybrid models for their Sonata, Grandeur, K5, and K7 brands. The sales of the hybrid models reached an all-time high last year. They were sold 62,648 units in Korea and the United States last year.
Considering that the two carmakers’ hybrid sales stood at about 6,000 units in 2009, they achieved about a ten-fold increase in sales of hybrid models in just six years.
Starting from 6,312 units in 2009, the sales of hybrid models rose to 29,000 units in 2011 and exceeded the 60,000 mark last year, first in history.In 2014, the two carmakers sold 27,820 units of hybrid models in Korea and 34,838 units in the U.S.
Their cumulative hybrid model sales are estimated at 221,490 units, of which Sonata Hybrid accounted for 114,778 units.
Source: The Korea Economic Daily