Hybrid Response Lapses... US Cars Unable to Escape 1Q Slump

Sales Volume Down Over 30% Year-on-Year
New Car Shortage and Limited Hybrid Lineup
Hybrid Car Sales Only 33 Units in 1Q

[Image source=Yonhap News]

In the first quarter of this year, domestic sales of American car brands in South Korea have been halved compared to the previous year. Amid a lack of notable new models, there was also a clear slump in hybrid vehicles, which have recently been gaining popularity.

According to the Korea Imported Automobile Association on the 7th, the total sales of American car brands such as Ford, Jeep, Chevrolet, and Cadillac in the first quarter of this year amounted to 2,959 units. This represents a 29.4% decrease compared to 4,191 units in the first quarter of last year. The decline was much steeper than the overall 11.5% drop in imported car sales during the same period. Most brands showed poor performance, including Ford (-27.7%), Jeep (-39.7%), Cadillac (-24.1%), and Chevrolet (-65.4%). Only Lincoln, which launched the new model of the sport utility vehicle (SUV) Nautilus at the end of last year, recorded growth by selling 739 units in the first quarter, a 136.9% increase compared to the same period last year.

In particular, their response to hybrid vehicles, which are gaining attention instead of electric vehicles, lagged behind. The sales of hybrid vehicles from these American car brands in the first quarter of this year amounted to only 33 units. Although it was only 66 units in the first quarter of last year, this figure was also halved. The lack of hybrid models in both new and existing vehicles meant they fell behind in market response. This contrasts with Japanese car brands such as Toyota, Lexus, and Honda, which emphasize hybrid vehicles and recorded sales of 6,025 units in the first quarter of this year, a 12.8% increase compared to the same period last year.

American car brands plan to turn the tide by launching new models from the second quarter through the second half of the year, but the situation remains challenging. Ford plans to release a facelifted model of its best-selling Explorer this year, but the hybrid trim has been discontinued. Cadillac will only launch the fully redesigned entry-level SUV XT4 and the brand’s first electric vehicle, the Lyriq. Chevrolet’s Equinox PHEV (plug-in hybrid electric vehicle) is expected to be released no earlier than the first half of next year.

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