Seoul, Jan 14
Hyundai Motor and its affiliate Kia said on Tuesday their combined exports of environmentally friendly vehicles climbed 3 per cent in 2024 from a year earlier despite an economic slowdown.
Hyundai and Kia shipped a total of 707,853 eco-friendly cars last year, up from 687,420 units a year ago, Hyundai Motor Group said in a press release.
Gasoline hybrid models accounted for 56 percent of the eco-friendly car shipments, offsetting a slowing demand for electric vehicle (EV) models, it said, reports news agency.
To ride out the EV slowdown, the carmakers said they will strengthen their product lineups by adding more fuel-efficient gasoline hybrid models.
They also plan to improve their product mix, and adjust vehicle production and inventories in the face of high interest rates, low growth, spread of protectionism and tougher competition with rivals this year.
Hyundai and Kia together form the world's third-largest automotive group by sales after Toyota Motor and Volkswagen AG.