According to Amac News: Based on the report of this media, Wednesday's statistics showed that the sale of new cars in the Republic of Korea in the first 9 months of the year decreased by more than 8% compared to the previous year.
Yonhap news agency cited data from the Korea Automobile and Mobility Association (KAMA) as showing that new car registrations totaled 1,209,154 units in the January-September period, down 8.7 percent from last year.
According to Yonhap, this is the lowest record in a nine-month period since 1,175,010 units were recorded in 2013.
The number of petrol vehicles fell 19.6% year-on-year to 515,000 units, while diesel registrations fell 56.7% to 99,000 units.
 The registration of electric vehicles also decreased by 7.9% to 108,000 units.
Industry observers believe that high interest rates have deterred consumers from buying cars, and as a result, overall demand for electric vehicles (EVs) has also stagnated.
Annual car sales in Korea are estimated to have reached their lowest level in 11 years and will barely exceed 1.6 million units.