[Consumerwide - HueSoung Jun Reporter / Yohan Bok Reporter]  In 2023, there was a huge trend towards environmental vehicles in the domestic vehicle market, but electric vehicles. Due to complete consumption of factory order waiting stocks, a high interest rate, high inflation, and a lack of charging infrastructure, demand for electric vehicles has rapidly decreased during the second half of the year, whereas there was a 13.9% increase during the first half compared to the same season last year. Currently, the sales record of electric vehicles has eased due to the expansion of government subsidies and manufacturer's d/c, and the sales record of last month has rebounded. Thus, if there is no benefit from either side, it is predicted to have no growth in the electric vehicle market next year.

According to KAMA (Korea Automobile Manufacturers Association), this year began with a low sales record in January, recording 710, which is a 55.1% decrease from the same month last year.

But, as soon as government subsidies began to be released, the sales record increased. The sales record for February was 17,848, March was 17,466, and April was 14,414, which are each 35.7%, 25.0%, and 15.3% higher than the same month last year. Yet, compared to a month prior, excluding February, the sales record began to decrease, with March seeing a 2.1% decrease and April seeing a 17.5% decrease from each a month prior.

In May, the record decreased by 5.5% (13,650) from the same month last year and 5.3% from a month prior. Sales records for the rest of the month are as follows: June 14,889 (9.1% increase from a month prior, 21.9% increase from the same month last year), July 12,907 (13.3% ▽, 12.4% ▽), and August 9,624 (25.4% ▽, 33.6% ▽).

As the sales record of electric models reached full scale, the government began releasing additional subsidies for electric vehicles temporarily, at a maximum of 1 million won until the end of the year. (former subsidies at a maximum of 6.8 million won by September) Korean and overseas brands began offering d/c events such as the EV sale festa accordingly. With the lower price, eventually the sales record began rising again. The sales record for September was 13,612, which is a 41.48% increase from a month prior; in October, 15,545 (14.2%△); and in January, 15,829 (1.8% △).

Particularly, the sales record for November turned out positive compared to both a month prior and the same month last year.

However, it isn't time to celebrate yet. Subsidies are decreasing annually, and there would be a limit to d/c from a manufacturing point of view. For this reason, I perceive that it is necessary to continue subsidies for some time while enhancing charge infrastructure and expanding consumer benefits in the driving stage. Besides, more releases of electric vehicles with low prices will contribute to the revival of the electric vehicle market.