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Korean exports of green vehicles up 24.1% to record high in November 2019-12-13

The Ministry of Trade, Industry and Energy announced on December 13 that exports of Korean eco-friendly cars in November reached a record monthly high of 28,597 units, up 24.1 percent from a year earlier. By type, year-on-year increases were experienced in all types of green cars except for hybrid electric vehicles (HEVs).
Meanwhile, overall auto exports last month decreased 8.6 percent to 217,498 vehicles due to a base effect and fewer overseas orders. Exports in value terms experienced a smaller decline of 1.4 percent, reflecting the expansion of sport utility vehicles (SUVs) and clean vehicles. The cumulative exports from January to November totaled USD 39.3 billion, which is a 5.9 percent increase compared to the same period last year.

Total auto output in November fell 11.3 percent to 346,379 units. Still, this figure is 5.5 percent greater than this year’s monthly average of 328,462 units. The manufacturers of these vehicles were Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Zyle Daewoo Bus, and Tata Daewoo.

Auto sales in Korea inched down 1.3 percent to 160,586 vehicles. Local sales of Korean-made cars decreased 3.1 percent to 134,313 units, while those of imported cars climbed up 8.9 percent to 26,273 units as German brands gained more popularity.

Green car sales within the country, on the other hand, went down 19.2 percent to 12,766 units. Local sales of HEVs, electric vehicles (EVs), and plug-in hybrid electric vehicles (PHEVs) decreased while those of fuel cell electric vehicles (FCEVs) hit an all-time high of 699 units, more than four times greater than a year earlier.

For car parts, exports dropped 9.4 percent to $1.8 billion. Declines were seen in shipments bound for North America (down 9.0 percent to $626 million), Asia (down 12.2 percent to $459 million), the EU (down 12.2 percent to $312 million), and Eastern Europe (down 15.8 percent to $173 million). Increases was experienced in exports to the Middle East (up 7.7 percent to $91 million), Central and South America (up 11.9 percent to $81 million), Africa (up 6.8 percent to $19 million), and Oceania (up 9.0 percent to $9 million).

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