Hyundai, Kia to see hybrid car sales soar 25% on year in 2023

Kia’s The new Carnival [Courtesy of Hyundai Motor Group]

South Korea’s two major automakers Hyundai Motor Co. and Kia Corp. are expected to see their combined sales of hybrid vehicles surpass last year’s level by 25 percent this year, thanks to their commitments to developing innovative technologies such as the world’s first parallel hybrid system.

The two automakers sold 766,964 hybrid electric vehicles (HEVs) and plug-in hybrid vehicles (PHEVs) between January and November, including 254,258 units at home and 512,706 overseas.

The global sales in the first 11 months have already outnumbered last year’s total sales of hybrid vehicles that stood at 638,888 units.

In 2011, Hyundai Motor and Kia entered the hybrid market by developing the world’s first parallel hybrid system. Featuring simple structure, lightweight design, and affordability, the new hybrid system was used in Hyundai Motor’s Sonata and Kia’s K5 in 2011.

The Sonata Hybrid, the first model equipped with Hyundai’s innovative hybrid drivetrain, has witnessed a tenfold increase in sales over the past 12 years since its launch in 2011.

This notable growth was driven by a mix of factors, such as the distinctive hybrid system and engine, as well as performance enhancements.

The year 2016 marked the launch of dedicated hybrid models, NIRO and IONIQ, leading to a surge in sales to over 110,000 units. The NIRO has emerged as the top-selling hybrid vehicle for the Hyundai Motor Group, while the IONIQ has become a popular choice among international drivers, with 295,673 units sold outside Korea.

In 2020, the automakers made their hybrid models further competitive by deploying 1.6-liter gasoline turbo engines, a centerpiece of Hyundai Motor and Kia’s engine technology.

This engine with a commendable 180 horsepower was the solution to speed demands in hybrids. Using the engine in Kia’s popular sport utility vehicle, the Sorento, led to a surge in hybrid vehicle sales to 470,000 units.

Hyundai Motor and Kia have since made further achievements. They introduced the Continuously Variable Valve Duration (CVVD) technology, an automated valve controller that improves performance and fuel economy, in 2019.

According to global market research firm Fortune Business Insights, the global hybrid car market is projected to grow at an annual average of 7.3 percent by 2030.