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Photo courtesy of Yonhap News |
[Alpha Biz= Ellie Kim] Electric vehicle demand in South Korea surged sharply in April, driven by prolonged high oil prices linked to geopolitical tensions in the Middle East.
According to data released on May 20 by the Ministry of Trade, Industry and Energy, total domestic auto sales reached 151,693 units last month, up 0.7% year-on-year.
Within the eco-friendly segment, electric vehicles saw explosive growth. EV sales jumped 139.7% from a year earlier to 38,927 units, signaling a major shift in consumer preferences.
By contrast, hybrid vehicles—previously the dominant category—declined 1.9% to 50,872 units.
The ministry attributed the surge to sustained high oil prices amid Middle East conflicts, combined with policy factors such as vehicle usage restrictions, which have boosted interest in EVs.
In the domestic market, Hyundai Motor Company and Kia Corporation maintained the top two positions, while Tesla ranked third.
China’s BYD also posted rapid growth, increasing its sales from 543 units a year earlier to 1,664 units, climbing to eighth place.
By model, the best-selling vehicles were Kia Sorento (12,078 units), Tesla Model Y (9,328 units), Hyundai Grandeur (6,622 units), Hyundai Sonata (5,754 units), and Hyundai Avante (5,475 units).
Meanwhile, exports showed signs of weakness. Korea’s auto exports fell 5.5% year-on-year to $6.17 billion in April, reflecting ongoing uncertainties in global trade conditions, including U.S. tariffs and geopolitical risks.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
