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November 16, 2021

South Korean EV sales almost double in January-September

EV sales are surging in South Korea.

By David Leggett

South Korean sales of electric vehicles surged by 96% to 71,006 units in the first nine months of 2021, according to data collected by the Korea Automotive Technology Institute (KAII).

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What's next for the Automotive industry?

The theory of the peak car – particularly in the triad markets of the US, West Europe and Japan – and the need for sustainable transportation have driven the pivot to mobility in the automotive industry. Both of these drivers are motivating OEMs to change, while society at large is interested in sustainable transport.    GlobalData’s forward-looking report provides you with insights into the direction that the automotive industry is heading in the next few years. It covers: 
  • The forces transitioning automotive to mobility services 
  • CASE megatrends, and their relationship with COVID-19 
  • The way forward for autonomous vehicles 
  • Sustainability issues in automotive 
Examine the factors contributing to the future growth of different segments of the automotive industry.   Download the full report to align your strategies for success and get ahead of the competition.  
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The institute said South Korea ranked as the seven-largest market for these vehicles globally in this period, behind China with 1.76 million sales; the US with 272,554 units; Germany 243,892 units; UK 131,832 units; France 114,836 units; and Norway 84,428 units.

EV sales accounted for roughly 5.5% of the South Korean vehicle market in this period, compared with 9.4% in China and 2.3% in the USA.

KAII estimates global EV sales amounted to 3.01 million units in the first nine months of the year, exceeding the 3 million mark for the first time. It said Hyundai Motor Group’s global EV sales rose by 67% to 159,558 units in the nine-month period, making it the fifth-largest EV maker in the world after Tesla with 625,624 units; China’s SAIC Motor with 413,037 units; Volkswagen 287,852 units; and China’s BYD with 189,751 units.

See also:

GM Korea to launch ten imported EVs models by 2025

Free Report
img

What's next for the Automotive industry?

The theory of the peak car – particularly in the triad markets of the US, West Europe and Japan – and the need for sustainable transportation have driven the pivot to mobility in the automotive industry. Both of these drivers are motivating OEMs to change, while society at large is interested in sustainable transport.    GlobalData’s forward-looking report provides you with insights into the direction that the automotive industry is heading in the next few years. It covers: 
  • The forces transitioning automotive to mobility services 
  • CASE megatrends, and their relationship with COVID-19 
  • The way forward for autonomous vehicles 
  • Sustainability issues in automotive 
Examine the factors contributing to the future growth of different segments of the automotive industry.   Download the full report to align your strategies for success and get ahead of the competition.  
by GlobalData
Enter your details here to receive your free Report.

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