Hyundai Motor Co., South Korea’s top automaker, slipped to second place in terms of global hydrogen vehicle sales in the first quarter, data showed Monday.
Hyundai Motor sold 691 hydrogen fuel-cell electric vehicles (FCEVs) in global markets during the January-March period, recording a 66.2 percent on-year decline, auto and energy industry tracker SNE Research said.
Japan’s Toyota overtook Hyundai to the top place, selling 868 units, or 36.4 percent of all hydrogen models sold globally.
The market share of Hyundai Motor, which sold 2,044 units in the first quarter of 2023, fell to 29 percent. SNE Research attributed the sluggish sales of Hyundai’s Nexo model to the overall decline in the company’s hydrogen vehicle sales.
The drop in quarterly sales of Hyundai Motor came amid an overall growth decline in the hydrogen car sector. Global sales of all FCEVs during the three months amounted to 2,382 units, down 36.4 percent from a year ago.
SNE Research noted South Korea has been experiencing low sales in hy
drogen cars since the sector’s peak in 2022, as Hyundai’s Nexo remains the only available consumer model while the issue of weak infrastructure remains unresolved.
Source: Yonhap News Agency