South Korea: Sales of diesel vehicles down through Q3 amid EV popularity

Seoul, Nov. 12 (BNA): Sales of diesel automobiles built by local manufacturers fell more than 20 percent year over year through the third quarter of 2023 in South Korea, data showed Sunday, amid the rising preference for electric vehicles in the market.

 

South Korea’s five carmakers sold 76,367 units of diesel passenger cars over the January–September period, down from 97,235 tallied a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association, Yonhap News Agency reported.

 

By model, sales of diesel models of Hyundai Motor Co.’s Palisade SUV nearly halved over the period to 11,693. Kia Corp., the company’s smaller sister, also saw sales of the Mohave SUV plunge 55.8 percent to 4,162.

 

Industry watchers said the decline in diesel vehicle sales came as manufacturers are seeking to scale back their shipments, in line with the increasing preference for eco-friendly cars in the market.

 

Hyundai recently launched the fifth-generation Santa Fe SUV but only offered gasoline and hybrid models. The company also suspended sales of the diesel versions of the Genesis G70 and G80 sedans with 2.2-liter diesel engines.

 



 

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