Korean deregulation raises Autogas car sales by nearly 40% in a month

Sales of Autogas vehicles are gaining momentum after the Korean government lifted barriers in consumer purchase of these vehicles to help promote cleaner fuel on roads.

According to data from the Korea Automobile Manufacturers Association and the Korea LPG Association, LPG-powered vehicle sales came to 11,434 units in April, up 39% compared to an average sales volume of 8,229 units in the first three months of this year. The industry associations expect the sales volume to increase faster in the second half.

In the past, the government limited Autogas only to taxis, rental cars and vehicles for disabled people, but that regulation was lifted and now all vehicles are allowed to be powered by the alternative fuel.

The government and the automaker industry anticipate a strong turnaround in the sale of Autogas vehicles from the latter half of this year. State-funded Korea Energy Economics Institute said LPG vehicle registrations would surge to 3.3 million units by 2030 from 2.03 million units currently.

Car manufacturers are upping marketing efforts to draw consumer attention to much cheaper and eco-friendly options while expanding their line-up of new LPG vehicles. For more information, please visit this link.

3 July 2019