electronics

1 out of 4 export vehicles eco-friendly car… 2 million units recovered in the first half of 4 years after Corona

In the first half of this year, automobile exports increased 46.6% year-on-year to $35.7 billion, breaking a record high. This is more than $10 billion in exports ($25.2 billion) in the first half of 2014, the previous record.

The Ministry of Trade, Industry and Energy announced on the 17th the ‘June 2023 Automotive Industry Trends’ containing these contents. The combined exports of automobiles and parts in the first half of the year were $47.3 billion. The Ministry of Trade, Industry and Energy said, “Expectations are rising that the exports of the automobile industry (cars and parts) will achieve 80 billion dollars this year.”

Exports of eco-friendly vehicles, such as electric, plug-in hybrid, hydrogen, and hybrid vehicles, were $12.4 billion in the first half, up 70.4% from the same period last year. The number of eco-friendly cars exported was 385,000 units, and one out of four exported vehicles was an eco-friendly car. Among eco-friendly vehicles, electric vehicles (BEVs) accounted for the largest share with 182,000 units (47.4%) exported. This was followed by 163,724 hybrids (42.6%), 38,465 plug-in hybrids (10%), and 236 hydrogen cars (0.06%).

Production in the first half of this year was 2.198 million units, up 23.5% from the same period last year. This is due to the normalization of supply of parts such as semiconductors for vehicles. The Ministry of Industry said that it was the first time in four years since 2019, before the corona, that the production volume in the first half of the year recovered to 2 million units.

In the first half of the year, 894,000 vehicles were sold in the domestic market. This is an increase of 10.7% compared to the same period last year. Among them, domestic cars sold 759,000 units, up 8.7%, but imported cars sold 134,000 units, down 3.1%. In the first half of this year, domestic eco-friendly car sales amounted to 264,000 units, accounting for 30% of total sales. In particular, hybrid cars sold 177,000 units (66.9%), accounting for the highest share in the domestic eco-friendly car market.

Meanwhile, last month’s automobile exports increased by 58.3 percent to $6.229 billion. Car exports exceeded $6 billion for four consecutive months from last March to last month after recording $6.5 billion. Eco-friendly vehicle exports last month were $2.29 billion, showing a record growth of 98.4% compared to the same month last year.

Eco-friendly vehicle exports have maintained the $2 billion mark for five consecutive months since recording $2.02 billion last February. Last month, automobile production was tallied at 370,284 units, up 12.8% from the same month last year, as supply chain disruptions in the domestic, North American and European markets were resolved.

Correspondent Changhyun Lee of Hellotti |

2023-07-17 04:32:15
#Automobile #exports #year #highest #ever.. #Ecofriendly #vehicles #increased