As carmakers compete in the eco-friendly vehicle market, Toyota Motor Korea is poised to lead the hybrid market here, achieving average annual growth of 82 percent, the company said Tuesday.

Toyota and its luxury brand Lexus sold a combined 19,102 units of hybrid vehicles here in 2017, up 26 percent on-year, the company said.

The two made up 84 percent of the imported hybrid car market in 2017, when a total of 22,773 units of hybrids were newly registered, according to data from the Korea Automobile Importers and Distributors Association.

On a global scale, Toyota Motor has sold over 11.4 million hybrids, including plug-in hybrids, from 1997 to last year, the company said.

With the launch of Toyota’s hybrid compact car Prius C here last week, the carmaker plans to further expand its hybrid vehicle portfolio.

Since the release of its first hybrid Lexus RX400h midsize sport utility vehicle here in 2006, its lineup has gradually increased to seven models and six for Toyota.

Lexus Korea’s best-selling hybrid sedan ES300h ranked No. 1 in imported car sales last May, marking the first time a hybrid vehicle had claimed the spot.

“In 2016 there were some 2.4 million hybrids in the worldwide hybrid market. In the same period, Toyota sold about 1.2 million hybrid cars, making up half of the entire hybrid market,” the company said.

Toyota’s Prius hybrid was the first to be mass produced in December 1997. The carmaker has sold an accumulated 10 million units as of last February.
It currently sells 35 hybrid models and one plug-in hybrid in some 90 countries.

Seeking to sell over 5.5 million units of hybrids, plug-in hybrids, fuel cell vehicles and electric vehicles annually until 2030, Toyota introduced plans last December to upgrade the Toyota hybrid system; develop high capacity simplified hybrid systems; expand its hybrid lineup to cater to drivers’ demands; and increase its plug-in hybrid vehicle lineup starting from 2020. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)