THE INVESTOR

메뉴열기
March 28, 2024

Hyundai sees boost in eco-friendly cars, hurdles lie in China

PUBLISHED : August 15, 2017 - 16:06

UPDATED : August 15, 2017 - 16:07

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • sms

[THE INVESTOR] Amid declining sales of Hyundai Motor and Kia Motors in and out of Korea, demand for eco-friendly cars made by the country’s two top carmakers is increasing, data by the company showed.

Hyundai Motor and Kia Motors sold a combined 141,681 eco-friendly cars between January and July this year, which is 10 percent more than the 128,975 units sold for the whole of 2016.

Eco-friendly cars offered by the two consist of 14 models -- six hybrids, three electric vehicles, four plug-in hybrids and one fuel cell EV.

By engine type, sales of hybrid models ranked No.1, totaling 119,780 units, followed by EVs and plug-in hybrids.

Kia Motors' Niro plug-in hybrid SUV. (Hyundai Motor Group)



Sales of plug-in hybrids jumped fivefold to 8,485 units in the cited period, showing the biggest rise in sales due to the popularity of the Niro plug-in hybrid SUV, company data showed.

Among the 141,681 eco-friendly cars sold, overseas sales totaled 105,383 units, up 35.3 percent on-year.

“The Ionic hybrid and Niro plug-in hybrid models are garnering huge popularity from motorists worldwide. We plan to diversify the eco-friendly lineup and also expand sales,” Hyundai Motor said.

China’s new energy vehicles policy, however, is widely expected to pose hurdles for Hyundai and Kia Motors alongside other auto-related Korean companies operating there.

Under the dual-credit scheme, automakers will be required to meet a minimum fuel efficiency rate. They will also have to increase the portion of zero- and low-emission vehicles to 8 percent of total cars made next year. The ratio will gradually rise to 10 percent in 2019 and 12 percent in 2020.

Carmakers that fail to meet the requirement can either buy credits from other companies or pay a fine.

“Most carmakers will not be able to meet the given target, so the new policy has to be delayed by a year,” the Korea Automobile Manufacturers Association said.

According to the KAMA, it had sent a letter requesting the Chinese government delay the introduction of the dual-credit scheme and to soften measures imposed on Korean battery makers last June.

The request was jointly made with the American Automotive Policy Council, the European Automobile Manufacturers’ Association and the Japan Automobile Manufacturers Association.

The KAMA’s request comes as Hyundai Motor looks to miss its sales quota for eco-friendly cars for next year by about 4,800 units, as the electric version of the Yuedong compact sedan, sold as the Elantra globally, released earlier this month is currently the only EV model offered in the Chinese market.

In an attempt to secure a piece of China’s ever-growing EV market, Hyundai Motor will raise the number of eco-friendly models there to six by 2020, including the plug-in hybrid version of the top-selling Sonata midsize sedan set for release early next year, the company said. 

By Kim Bo-gyung/The Korea Herald (lisakim425@heraldcorp.com)

  • 페이스북
  • sms
최상단으로
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.