Hyundai’s hybrid car sales remain sluggish

South Korea’s Hyundai Motor Company continues to post low sales of its fuel-efficient cars; monthly sales of the Avante hybrid dipped to an average of 118 units in May despite price cuts. Throughout 2011, the average monthly figure stood at 175 units, and monthly sales of the Sonata hybrid fell to 969 units, compared to an average sale of 1,027 units last year. Amidst lackluster sales, Hyundai lowered prices of its fuel-efficient cars last February, but the sales of its hybrid models were merely 10% of the sales of gasoline-fueled versions of the same models. Hyundai Motor Group’s affiliate, Kia Motors, also experienced slow sales of its Forte hybrid, and average monthly sales of the eco-friendly sedan remains at 77 units, compared to 128 units last year. On the other hand, Toyota Motor Corp. has been aggressively introducing its cheaper hybrid models in South Korea. The Japanese carmaker recently launched its Prius E, priced at KRW 31.3 million won (US$27,000). The company’s South Korean unit, Toyota Motor Korea, launched the New Camry Hybrid in January, and in February, it unveiled three models of the New Prius hybrid series: the Prius S, Prius M and Prius E. (June 28, 2012)