Report: Hyundai on track for 2013 plug-in hybrid debut; aims to sell 11,000 Sonata Hybrids in Korea in 2011

Earlier today, Hyundai announced that it aims to sell 11,000 Sonata Hybrids in its home market of South Korea by the end of 2011, as soaring gas prices have stoked demand for fuel-efficient vehicles. Additionally, Hyundai has set its South Korean sales target for the Sonata Hybrid at 18,000 units a year. The gas-electric Sonata launched in South Korea in early May.

Ko Tae-bong, an analyst at IBK Securities, told Reuters that:

The timing is appropriate for the launch of the Sonata Hybrid, as Toyota is suffering from supply shortages of the Prius and other small, fuel-efficient models.

According to Reuters, an unidentified Hyundai official claims that the automaker’s plug-in hybrid, which will compete in the same segment as the upcoming plug-in Prius, is still on track for a 2013 debut.

[Source: Reuters]