Eco-friendly cars zoomed past LPG registrations last year

A liquefied petroleum gas station in Korea [YONHAP]

The number of eco-friendly car registrations in South Korea surpassed that of liquefied petroleum gas (LPG) models for the first time last year, according to data on Monday.

According to the Ministry of Land, Infrastructure and Transport, the cumulative registration of domestic eco-friendly cars such as hybrids, electric and hydrogen cars as of last year amounted to 2.12 million units.

It marked the first time the tally for eco-friendly models exceeded that of LPG cars, which totaled 1.83 million units as of last year.

The rate of cumulative eco-friendly model registration out of all registered vehicles stood at 8.2 percent, while that of LPG units came to 7.1 percent, as of last year.

Demand for eco-friendly cars has seen a sharp increase as of late, while LPG unit sales have decreased annually in line with policies and consumer demand favoring around carbon neutrality.

According to statistics from the Korea Automobile Manufacturers Association, sales of new domestic eco-friendly cars, which stood at 29,000 units in 2014, soared to 232,000 units 2021 and later to 406,000 units in 2023.

Despite the growing adoption of eco-friendly cars, demand for LPG models is expected to remain for the time being as well, especially in the commercial vehicle market, where the electrification transition is being carried out relatively slowly.

Yonhap