This file photo, taken Sept. 16, 2022, shows cars waiting to be shipped at Hyundai Motor Co.’s factory in the southeastern city of Ulsan. (Yonhap)
SEOUL, May 16 (Korea Bizwire) — South Korea’s car exports surged 40.3 percent on-year in April on the back of solid demand for eco-friendly cars, the industry ministry said Tuesday.
The value of outbound shipments of automobiles came to US$6.16 billion last month, compared with $4.4 billion a year earlier, according to the data from the Ministry of Trade, Industry and Energy.
It is the highest monthly figure for any April, it added.
In terms of volume, exports also logged the largest figure for any April with 247,399 vehicles, jumping 25.3 percent on-year.
Strong global demand for eco-friendly vehicles led the overall brisk car sales.
The export value of eco-friendly cars soared 55.8 percent on-year in April to $2.05 billion, which is the second-largest monthly figure ever.
The value surpassed the $2 billion mark for the first time in February and has hovered above the level since then.
In terms of volume, sales climbed 33.7 percent to 63,824 units last month.
Of the total, 29,731 units were electric vehicles, with the EV sales spiking 100.4 percent on-year. Hybrid models accounted for 42.7 percent, or 27,256 units, which reported a 5.4 percent fall in sales last month, the data showed.
Exports of auto parts, however, inched down 1.6 percent on-year to $1.91 billion, the data showed.
At home, sales of automobiles went up 4.3 percent on-year to 149,374 units in April, the data showed.
Domestic production advanced 24.7 percent on-year to 382,265 units last month thanks to the smooth supply of automotive semiconductors, according to the ministry.
Of the major firms, production by Hyundai Motor Co. and its affiliate Kia Corp. grew 16 percent and 22.8 percent on-year, respectively.
(Yonhap)
