South Korea's Car Exports Increase in April
Vehicles & Transport Equipment
The Ministry of Trade, Industry and Energy announced on May 16 that South Korea’s automobile production volume was 323,644 last month, up 11.8 percent from a year ago. Last month, South Korea exported 188,293 cars, up 52.8 percent from a year ago, and the value of the exports increased 73.4 percent to US$4.15 billion. The ratio of SUV exports fell from 69.8 percent to 66.6 percent in one year whereas those of EVs and large sedans rose from 5.7 percent to 6.7 percent and from 1.5 percent to 2.5 percent, respectively. The exports to North America increased 66.4 percent year on year to US$1.934 billion and those to the European Union jumped 89.8 percent to US$840 million. Those to the rest of the European continent, Asia, Oceania, Africa and Latin America increased 52.5 percent, 131.1 percent, 261 percent, 86.7 percent and 296.6 percent, respectively. Those to the Middle East decreased 10.2 percent.
The domestic sales fell 3.8 percent to 161,097, the second-largest April figure led by new models and green cars. The volume is divided into 135,146 domestic and 25,951 imported cars. Those fell 6.3 percent and increased 12.1 percent, respectively. The green car sales volume in the domestic market rose 41.3 percent to 25,269. Last month, the hybrid car sales volume was 17,879, plug-in hybrid was 1,811, and EV increased 18.8 percent to 4,314. Hyundai sold 1,265 Nexos to exceed a monthly sales volume of 1,000 for the first time. South Korea’s green car exports increased 44.4 percent to 32,838 last month. Those of hybrid, EV and plug-in hybrid increased 65.4 percent, 17.6 percent and 76.4 percent, respectively. The exports of hydrogen cars fell 2.5 percent and its auto parts exports increased 99.9 percent to US$2.04 billion.