Last year, the domestic sales share of hybrid electric vehicles (HEVs) for domestic brands exceeded 20% for the first time.

According to the Korea Automobile Manufacturers Association (KAMA) on the 16th, the total number of domestic sales for five domestic car manufacturers including Hyundai Motor Company, Kia, GM Korea, Renault Korea, and KG Mobility last year was 1,364,750 units, among which hybrid vehicles accounted for 361,151 units. The share of hybrid vehicles in total sales reached 26.5%, surpassing 20% for the first time.

Sorento HYBE. /Courtesy of Go Seong-min
Sorento HYBE. /Courtesy of Go Seong-min

The share of hybrid vehicles, which was only 7.9% in 2020, first recorded double digits in 2021 (10.4%) and continued to increase in 2022 (13.2%) and 2023 (19.5%).

Since last year, the electric vehicle chasm (a temporary stagnation in demand) has become apparent, leading to a 7.0 percentage point increase over the course of a year. The share has increased more than fourfold over the past five years.

The domestic sales volume of hybrid vehicles from the five domestic car manufacturers also totaled 361,151 units, marking a 26.8% increase compared to 2023 (284,923 units).

Among individual models, the hybrid versions of midsize sport utility vehicles (SUVs) sold well. The Kia Sorento hybrid (67,874 units) and Hyundai Motor Company Santa Fe hybrid (55,847 units) ranked first and second in sales volume respectively.

The Kia Carnival hybrid, a multipurpose vehicle (MPV), came in third with 39,547 units sold. The hybrid vehicles, which received high marks for noise and vibration control, are seen as emerging in family cars, which were mostly diesel vehicles.

Considering the effects of new car launches this year, forecasts suggest that the domestic sales share of hybrid vehicles for domestic cars could rise to 30%.

Among large SUVs sold domestically, the Palisade, which will launch its hybrid model for the first time in the first half of this year, is representative. In the second half of this year, Kia's compact SUV, the Seltos, will also unveil a hybrid model.