Global Eco-Friendly Vehicle Sales Increase by 125% This Year

[Asia Economy Reporter Changhwan Lee] Although global car sales decreased in the first half of this year compared to the previous year, sales of eco-friendly vehicles significantly increased.

According to a report released on the 23rd by the Korea Automotive Technology Institute, global finished car sales in the first half of this year totaled 41.424 million units, down about 6% from 43.994 million units in the second half of last year.

The decline in car sales is attributed to the global spread of the shortage of vehicle semiconductors in the first half of this year.

However, sales of eco-friendly vehicles reached 4.948 million units in the first half of this year, an increase of about 125% compared to the first half of last year and 23% compared to the second half.

Hybrid vehicle sales rose 92% compared to the first half of last year, battery electric vehicles increased by 171%, and plug-in hybrid vehicles grew by 160%.

By country, vehicle sales decreased in regions except for the United States and Japan.

In the United States, domestic sales increased due to continuous improvement in consumer sentiment, and in Japan, sales rose due to the base effect from COVID-19 and expanded sales of hybrid vehicles.

By company, American and European finished car manufacturers continued to struggle, but Hyundai Motor and Toyota consistently increased their sales. The group-wise vehicle sales ranking for the first half of this year is Toyota, Volkswagen, Renault-Nissan, Stellantis, Hyundai Motor, and GM in order.

The institute forecasted that with the release of various new models, including dedicated electric vehicles, in the second half of this year, pent-up demand will recover to normal levels, but sales performance is expected to remain sluggish due to the lingering impact of semiconductor supply shocks.

This content was produced with the assistance of AI translation services.