- Registration date2025-02-18
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The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s automobile exports recorded USD 5.0 billion in January 2025, the second highest for the month.
Hybrid electric vehicles (HEVs) set fresh all-time highs in shipments for January, selling 35,701 units (up 35.5 percent year-on-year) in overseas markets, but the export value dropped 19.6 percent owing to last year’s high base effect and this year’s reduced number of working days (-4) from the long Seollal holidays.
Korea’s automobile production amounted to 290,590 units in January, down 18.9 percent. In addition to the lower number of working days and high base effect, the decline is also attributed to temporary production suspension at a car manufacturing plant during the month of January for transitioning to EV production.
Domestic sales fell 9.0 percent to 105,928 units. By model type, this year saw increasing demand for sedans whereas SUV sales enjoyed growth last year.