The popularity of compact electric cars with competitive pricing and product appeal is rising even in the midst of a temporary surge in electric car demand. Kia’s compact electric car, the Ray EV, has successfully established itself and is leading the era of electric car popularization. Recently, Hyundai’s Casper Electric has entered the market, sparking friendly competition.
According to data from Kaiza, the Ray EV has recorded a cumulative new car registration of 12,106 units in the past year (from September last year to August this year). This accounts for 23.7% of total Ray sales during the same period.
The Ray EV has been successful in the compact electric car market, achieving monthly sales of over 1,000 units since its launch. With a range of 205km in combined conditions and 233km in city driving on a single charge, the Ray EV has a price range of 27.35 million to 29.55 million won.
Consumers are drawn to the Ray EV for its versatility and practicality, especially as it benefits from both compact car and electric vehicle incentives, making it a popular choice. Kia attributes the popularity of the “Van” trim of the Ray EV to its convenient cargo space.
Hyundai’s Casper Electric, which started full-scale sales last month in Korea, has overcome the temporary electric car demand and fire safety concerns to achieve success. With 1,439 units sold domestically last month, the Casper Electric is attracting many Korean consumers due to its competitive pricing and excellent performance.
The Casper Electric’s enhanced performance and reasonable price make it an appealing choice for customers planning to purchase an electric car. Its longer length and wider width compared to the previous Casper model provide improved space utilization, comfort, and driving stability, setting it apart in terms of product appeal.
Various safety and convenience features, along with the larger body size, instill confidence in first-time electric car buyers, making the Casper Electric a compelling option for those considering a real purchase rather than just curiosity.
Industry insiders are introducing entry-level electric cars with affordable prices and smaller sizes to break through the overall market stagnation. The trend in the electric car market favors smaller cars, as they are more cost-effective and efficient for short city drives.
Expectations are high for the recovery of stagnant demand with the introduction of low-cost, high-performance electric cars that offer improved driving range, charging speed, safety, and convenience features. The competition in the electric car market is expected to intensify, leading to a recovery in demand for affordable and high-quality electric cars.
By Eunji Cha, Hankyung.com reporter [email protected]