Hybrid Car Sales Fall Short in Korea
Hybrid cars, noted in the world automobile market for their good gas mileage and environmental friendliness, are flopping in the South Korean market.
Last year, Hyundai/Kia Motors sensed a hybrid boom and released a model in the lucrative mid-sized sedan market, but sales were dismal. Even Toyota's Prius hybrid, a powerful presence in the Japanese and North American markets, performed poorly in South Korea.
Industry observers said Wednesday that Hyundai/Kia sold just 7,193 units of its Sonata, the hybrid it launched in May 2011, and 5,279 K5 hybrids last year. The company's sales targets for the two vehicles were 11,000 and 6,000, respectively.
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