SEOUL, - Eco-friendly vehicles have gained significant traction in South Korea, accounting for one-third of all new vehicle purchases in the first nine months of 2023. This trend reflects a growing consumer preference for environmentally friendly transportation options.
According to Yonhap News Agency, data from the South Korean transportation ministry and the Korea Automobile Manufacturers Association, 32.1 percent of all new vehicle customers opted for eco-friendly models, including hybrid and electric units, from January to September. This marks the first time the annual rate of new eco-friendly model purchases has surpassed 30 percent. In comparison, the rate was 20.4 percent in 2021 and increased to 28.5 percent in 2022.
The surge in eco-friendly vehicle purchases extends beyond passenger cars to commercial vehicles like cargo trucks and buses. The data showed that the rate of eco-friendly models in the commercial vehicle sector stood at 19.4 percent, up from 16.3 percent in 2022.
This significant shift towards eco-friendly vehicles underscores the changing dynamics in the automotive market in South Korea, reflecting both environmental concerns and advancements in vehicle technology.