Hyundai loses hydrogen car throne to Toyota as sales slip

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Hyundai loses hydrogen car throne to Toyota as sales slip

Published: 13 May. 2024, 16:53

SARAH CHEA
[email protected]

Nexo SUVs charge in Yeouido, western Seoul, on Feb. 13. [YONHAP]

Hyundai Motor's sales of hydrogen fuel cell-powered vehicles plunged 66 percent in the first quarter, allowing Toyota to take the crown in the market.

The Korean automaker sold a total of 691 hydrogen cars globally, down 66.2 percent on year, impacted by declining sales of Nexo SUVs, according to market tracker SNE Research.

It grabbed 29 percent of the world's hydrogen car market, ranking No. 2.

The top spot went to Toyota, which sold 868 units and held a 36.4 percent market share.

“Though Nexo has been the only choice for the Korean market, it has been shunned by the public due to lack of infrastructure and pricy sharing prices,” SNE Research said.

A total of 2,382 hydrogen cars were newly registered globally in the first quarter, down 36.4 percent on year, marking the second consecutive year of decline.

BY SARAH CHEA [[email protected]]