Korean Autogas vehicle sales keep growing

Ever since all restrictions on the use of Autogas for private vehicles were lifted in March, sales of LPG-powered cars are on the rise. According to data from the Korea Automobile Manufacturers Association, these sales set a new record this year after 12,433 Autogas cars were sold in July, almost double February’s sales of 6,671 cars.

Average monthly sales in the second quarter amounted to 11,219 cars, up by 36.3 percent from the first quarter (8,229). The market share of LPG-powered vehicles during the same period increased from 6.8 percent to 8.5 percent.

Hyundai Motor Co., after introducing the LPG versions of its Sonata models, saw 31.8 percent increase in average monthly sales of Autogas cars in the second quarter.

“LPG cars are normally 10 percent cheaper than gasoline vehicles, and they come with high fuel efficiency that exceeds 10 kilometres per litre, which makes them more attractive for consumers,” said Lee Ji-yeon, a researcher at Shinyoung Securities Co.

Autogas car sales are expected to grow thanks their affordability. The Korea Energy Economics Institute forecasted that the market share will reach more than 10 percent. For more information, please check this link.

23 October 2019