Electric vehicles (EVs) have broken out of the so-called “EV chasm,” overtaking hybrids in South Korea's domestic auto market. The shift reflects a combination of more affordable new EV models and Tesla's strong volume push, marking only the third time on record that monthly EV registrations have surpassed hybrids.
According to data from CarIsYou Data Research Institute, monthly EV registrations in May reached 32,785 units, edging past hybrids (31,808 units) by 977 vehicles. EVs accounted for 26.8% of total new car registrations that month, narrowly beating hybrids at 26.0% to take second place behind gasoline-powered vehicles, which held a 35.7% share.
This was not the first time EVs have led hybrids in monthly registrations. The first crossover came in September 2022, driven by new domestic models such as the Hyundai Ioniq 6. The second came in February this year, boosted by the early finalization of government subsidies and aggressive pricing by automakers. May's reversal, however, appears more durable.
While hybrids have long dominated the market as a bridge between internal combustion engines and pure electric mobility, May showed a sharp divergence in growth trends. Hybrid registrations fell 21.5% year on year, while EV registrations rose 50.9%.
Industry analysts attribute the rebound to strong sales of affordable, entry-level EVs in both the domestic and import segments. In the domestic passenger market, Hyundai and Kia anchored affordable electric SUVs at the top of the sales charts, led by the Kia EV3 (2,441 units), Kia EV5 (2,302 units), and Hyundai Ioniq 5 (2,297 units).
In the import segment, Tesla was the main driver of EV growth. The Tesla Model Y ranked first overall with 8,762 registrations, while the Model 3 placed third among all imports with 1,301 units. A steady supply of imported electric SUVs, including BYD's Sealion 7 (655 units), Audi's Q4 e-tron (361 units) and the Polestar 4 (350 units), also helped accelerate the shift.
Unlike earlier flips driven by one-off events or subsidy timing, May's reversal appears broader and more structurally driven, reflecting a stronger alignment between automaker offerings and organic consumer demand. Analysts say buyers are increasingly viewing EVs as a practical substitute for hybrids rather than a risky alternative.
“The rollout of more affordable models has effectively lowered the price barrier for mainstream consumers, strengthening the case for EVs as a truly mainstream option,” an automotive industry insider noted. “As consumer preferences continue to shift in a normal market cycle, the battle for leadership in the eco-friendly vehicle segment is only going to intensify.”
