The used car market is also very strong in hybrid..Doubles in 5 years
Feb 20, 2025
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Hybrid craze has recently hit the domestic automobile market, and hybrid cars are also gaining popularity in the used car market. In 24 years, 389,000 hybrid cars were sold in the domestic new car market. This is a 29.2% year-on-year growth. The hybrid market continues to grow remarkably, with hybrid cars accounting for more than 70% of the monthly sales of imported cars in January for the first time.
Hybrid cars traded on Encar.com over the past five years continued to grow steadily. The proportion of hybrid cars in all fuel types has increased every year, and the proportion of registered cars has increased from 2.60% in 20 years to 5.92% in 24 years. The proportion of sales also increased from 2.27% in 20 years to 5.07% in 24.
In particular, the number of registered and sold hybrid vehicles in 24 years increased by 117%, more than doubling compared to 20 years. This is compared to gasoline cars that do not increase or decrease significantly during the same period or diesel and LPG cars that showed negative growth.
As the new car market expands, the number of used cars registered is increasing, and accordingly, hybrid car options are diversifying, driving sales. Hybrid cars have emerged as an attractive alternative to consumers who considered purchasing electric cars because they are eco-friendly without experiencing inconvenience of lack of charging infrastructure during the electric conversion process.
In addition, as the recent era of high oil prices continues, the number of consumers who choose used hybrid cars seems to have increased, including reduced maintenance costs due to high fuel efficiency and economic advantages of being able to purchase them at a lower reasonable price than new cars.
In addition, there seem to be consumers who turn to used cars that can be released immediately instead of new cars with longer waiting periods for release. Given this phenomenon, the used hybrid market is expected to continue to grow in the future.
As a result of the Top 5 analysis of popular sales hybrid models sold through Encar.com in 24, Kia Sorento's 4th generation ranked first. Next came Hyundai The New Granger IG Hybrid, third Kia K8 Hybrid, fourth Hyundai Granger IG Hybrid, and fifth Kia Niro. Among imported cars, Lexus ES300h 7th generation ranked sixth after Kia Niro.
With continuous consumer demand, this month's hybrid vehicle market price is also superior to other fuel types. As of February 25, the 22-year-old Kia Sorento 4th generation HEV 1.6 2WD Gravity Hybrid is trading at 35.73 million won and the Lexus ES300h 7th generation executive is trading at 49.66 million won.
"Hybrid cars, which have excellent maintenance costs and no worries about charging, are in high demand as transitional models for electrification, and their popularity seems to be reflected in the used car market," an official at Encar Dotcom said. "The popularity of hybrids in the used car market is expected to continue for the time being due to the fact that they accounted for about 8% of vehicles sold as Encar Trust last year.
Editor Kim Tae-jin, tj.kim@carguy.kr
This article was translated by Naver AI translator.
