January 6, 2025 – According to sales figures released today by the top five Korean automakers (Hyundai, Kia, GM Korea, Renault Korea, and KGM), new energy vehicle (NEV) sales in Korea reached a record high of 450,000 units last year, representing a year-on-year growth of 11.1%.
NEVs include hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs). Among them, HEV sales showed the most significant growth, increasing by 24.9% to 356,000 units, accounting for 88% of total NEV sales. However, BEV sales declined by 21.2% to 91,000 units, falling below the 100,000 mark. Additionally, FCEV sales dropped sharply by 36.4% to just 2,751 units.
In terms of brands, Hyundai and Kia led the way with a 5.8% year-on-year increase in NEV sales, reaching 423,000 units and breaking the 400,000 mark for the first time in history.
Meanwhile, the combined global sales of the five Korean automakers decreased slightly by 0.6% to 7,947,200 units in 2024. Domestic sales in Korea totaled 1,358,800 units, while overseas sales amounted to 6,588,300 units. Notably, domestic sales in Korea declined by 6.4%, marking the lowest level since 2008.
