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, Feb. 20 (Korea Bizwire) — South Korea’s car exports jumped 21.9 percent in January on-year, driven by record-high global sales of eco-friendly cars, data showed Monday.
The value of outbound shipments of automobiles came to US$4.98 billion last month, up from 4.09 billion a year earlier, according to the data from the Ministry of Trade, Industry and Energy.
It is the highest figure for any January, the ministry noted. The previous record was set in January 2013, when exports stood at $4.2 billion.
In terms of volume, a total of 200,825 vehicles were sold overseas last month, up 11.3 percent from the previous year, the data showed.
Strong demand for eco-friendly vehicles led the overall brisk car sales.
The export value of eco-friendly cars jumped 42.3 percent on-year in January to an all-time monthly high of $1.79 billion.
In terms of volume, sales also reached an all-time high of 56,697 units last month by rising 29.8 percent on-year. Of the total, 27,223 units were electric vehicles, and 23,956 were hybrid models, the data showed.
Eco-friendly cars accounted for 28.2 percent of the country’s total car exports in terms of volume last month, according to the data.
But exports of auto parts fell 16.2 percent on-year to $1.79 billion last month, the data showed.
At home, sales of automobiles rose 4.7 percent on-year to 116,565 units in January, with the number of eco-friendly cars sold here jumping 28.9 percent to 22,662 units, the data showed.
Domestic production advanced 13.2 percent on-year to 306,738 units in January thanks to the smooth supply of automotive semiconductors, according to the ministry.
Of major firms, production by Hyundai Motor Co. and its affiliate Kia Corp. grew 18.8 percent and 5.3 percent on-year, respectively. The two carmakers accounted for 86.1 percent of the country’s total car production.
(Yonhap)
