[KITA News] 1H automobile exports largest in history…

                                                         

1H automobile exports largest in history…

1H automobile exports largest in history…

Exports of environmentally-friendly cars rose 70.4%

 

 

1H automobile exports largest in history…

Exports of environmentally-friendly cars rose 70.4%

 

1H production volume recovers 2 million unit level

In four years after COVID

 

 

1H automobile exports tallied at USD 35.7 billion, breaking the record as a historical high.

 

This is a 46.6% increase compared to the same period of last year, and exceeding the previous record high of 2014 1H exports (USD 25.2 billion) by at least USD 10 billion.

 

On July 17, the Ministry of Trade, Industry and Energy announced “Automobile Industry Trends for June 2023” which contains such data.

 

The export amount for environmentally-friendly vehicles, such as electric, plug-in hybrid, hydrogen, and hybrid cars amounted to USD 12.4 billion in the 1H, which was a 70.4% increase compared to the same period of the previous year.

 

The number of exported environmentally-friendly cars was 385,000 units. Thus, one in every four exported vehicles were environmentally-friendly.

 

Among the environmentally-friendly cars, electric cars (BEV) took up the most share, with an export of 182,000 units (47.4%). Following, 163,724 (42.6%) hybrids were sold, and 38,465 (10%) plug-in hybrids were sold, while 236 (0.06%) hydrogen cars were sold.

 

The total export amount of automobiles and components for the first half of the year was USD 47.3 billion.

 

The Ministry of Trade, Industry and Energy revealed that “Expectations are heightening that the export amount for the automobile industry this year (automobiles and parts) will reach USD 80 billion.”

 

On the other hand, the export amount for June recorded USD 6.229 billion, which was an increase of 58.3%. The export amount for automobiles, which recorded USD 6.5 billion in March, exceeded USD 6 billion for four months in a row up to last month.

 

Last month, the export amount for environmentally-friendly cars was USD 2.29 billion, which was a record growth rate of 98.4% compared to the same month of the previous year.

 

The export amount of environmentally-friendly cars recorded USD 2.02 billion in February, and continues to maintain the USD 2 billion level five months in a row.

 

Last month, in terms of the automobile export amount per region, exports to North America took up the most with USD 3.095 billion.

Following, exports to EU took up USD 1.018 billion, while exports to Asia took up USD 581 million, exports to the Middle East took up USD 444 million, exports to other European countries took up USD 429 million, exports to Oceania took up USD 358 million, exports to Latin America too up USD 261 million, and exports to Africa took up USD 39 million.

 

(Provided by Korea Trade News)

By - KITA.Net (http://kita.org/about/newsView.do?id=&no=2799&searchWrd=&pageIndex=1)