IANS | 13 May, 2024
South Korea's top automaker Hyundai Motor has slipped to second place
in global hydrogen vehicle sales in the first quarter (Q1), data showed
on Monday.
The automaker sold 691 hydrogen fuel-cell electric
vehicles (FCEVs) in global markets during the January-March period,
recording a 66.2 per cent year-on-year drop, according to auto and
energy industry tracker SNE Research.
Japanese automaker Toyota
overtook Hyundai to the top place, selling 868 units, or 36.4 per cent
of all hydrogen models sold worldwide, Yonhap News Agency reported.
The
market share of Hyundai Motor, which sold 2,044 units in Q1 of last
year, fell to 29 per cent. 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 segment. Global sales
of all FCEVs during the three months under review amounted to 2,382
units, down 36.4 per cent from a year ago.
As per data, South
Korea has been experiencing low sales of hydrogen 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.
