Newsnomics AJAY ANGELINA reporter |
South Korea’s automobile exports reached to 6.2 billion USD, recording a historic high for May monthly exports and entering the $6 billion thresholds for the consecutive month said the Korean Ministry of Trade, Industry and Energy (MOTIE) on June 15.
Eco-friendly cars, higher in unit price, recorded $2.1 billion (up 64.3 percent) in exports for May, driving up the entire automobile exports.
A total of 47,275 units of eco-friendly cars were sold, taking up 31.1 percent of entire automobile sales in May.
As per MOTIE automobile production in May climbed 24.5 percent to 382,129 units.
Total accumulated production from January-May this year amounted to 1,827,410 units, surpassing the number of units produced in the same period of 2019 before the Covid.
The month of May recorded the sale of 152,190 units within Korea that is 4.6 percent higher year-on-year.
Among them, sales of Korean cars increased 8.7 percent to 130,460 units, while imported models experienced a 14.7 percent decline due to lower demand for gasoline and diesel vehicles said the Ministry of Trade, Industry and Energy.
By fuel type, electric vehicles (EVs) and fuel cell electric vehicles (FCEVs) gained 98.5 percent to $1.2 billion in
exports for May.
Hybrid electric vehicles (HEVs) grew 44.5 percent to $0.7 billion.
While plug-in hybrid electric vehicles (PHEVs) advanced 11.1 percent to $0.2 billion.
