South Korea's domestic sales and exports of eco-friendly vehicles increased on the month and year in March. Its eco-friendly vehicle sales rose to 30,316 units in March, up by 59pc on the year and by 65pc from February, according to data from South Korea's trade, industry and energy ministry (Motie). The share of domestic sales of such vehicles was 18pc of the country's total automotive sales of 171,340 vehicles last month. Exports of eco-friendly vehicles reached 33,164 units in March, up by 29.3pc from a year earlier and accounting for 16pc of the country's total automotive exports of 203,837 units in March. South Korea's eco-friendly vehicle category covers pure battery electric vehicles (EVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and fuel-cell electric vehicles (FCEVs).
PHEVs led the increase in domestic sales in March, surging by 279.9pc from a year ago to 2,036 units, while FCEVs saw the largest gain in exports with a 133.3pc rise to 210 units. The South Korean government aims to become more self-sufficient and competitive in the green car market and reduce its dependence on China, where most of the components are made. Motie plans to invest 73.4 trillion South Korean won ($65bn) in energy initiatives as part of this programme. Total auto production by South Korean automobile producers dipped by 9.5pc on the year to 333,848 units in March owing to external conditions such as a shortage of automotive semiconductor supplies, Motie said.