Cumulative eco-friendly vehicle exports from January to September this year amounted to US$17.9 billion, exceeding the value of last year’s total eco-friendly vehicle exports ($16.1 billion).
Total automobile exports through the third quarter of this year reached an all-time high of $52.1 billion.
According to the Ministry of Trade, Industry and Energy (MOTIE), exports of eco-friendly cars in September amounted to 53,801 units, an increase of 10.6% compared to September last year. The cumulative number from the first to the third quarter was 548,263 units, an increase of 37.8% compared to the same period last year.
In terms of export amount, eco-friendly car exports last September amounted to $1.742 billion, a 23.3% increase from September last year, and cumulatively for the first to third quarters, they amounted to $17.909 billion, an increase of 57.7% compared to the same period last year.
In addition, MOTIE analyzed that exports of eco-friendly cars to the U.S. market increased as the government actively responded to the U.S. Inflation Reduction Act (IRA), and the Korean automobile industry actively utilized it.
Total automobile production last September was calculated to be 301,799 units. This is a 1.9% decrease from the same period last year, but the record of ‘producing more than 300,000 units per month’ has not been broken for 13 consecutive months since September last year.
If this trend continues, MOTIE predicts that annual production will likely exceed 4 million units in the five years from 2018.
Domestic market sales in September decreased by 4.7% to 133,709 units. Among these, sales of eco-friendly cars increased by 2.3% to 42,621 units. Electric vehicle sales decreased by 34.3% to 13,499 units, but hybrid vehicle sales increased by 45.7% to 27,930 units.
A spokesperson for MOTIE commented, “In order to maintain the automobile export momentum, we will resolve export difficulties through continuous communication with the automobile industry.”
korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods
Korean-Machinery.com 
Leave a comment