Exports of green cars set new record in September

The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (32,823 units), value ($1.0 billion) and share of total exports (23.8 percent).

Automobile output, domestic sales, exports decreased 33.0 percent, 29.7 percent, and 20.7 percent, respectively, for the month of September. The decline was attributable to global semiconductor shortages and four fewer working days compared to the same period last year because of the Chuseok holiday.

Automobile production in September fell 33.1 percent to 229,423 units. Some factories temporarily closed down due to the automotive chip shortage, contributing to the fall in output.

Domestic sales fell 29.7 percent to 113,932 units due to delayed shipment and fewer working days. It is the first time this year that sales of both locally produced cars (down 33.8 percent 91,247 units) and imported cars (down 7.0 percent to 22,685 units) contracted.

Meanwhile, sales of eco-friendly vehicles in Korea advanced 24.8 percent to 30,428 units. This accounted for 26.7 percent of total domestic sales, the highest on record. All vehicle types showed growth. Hybrid electric vehicles (HEVs) inched up 1.5 percent to 16,803 units, plug-in hybrid electric vehicles (PHEVs) soared 306.6 percent to 2,204 units, electric vehicles (EVs) jumped 53.8 percent to 10,482 units, and fuel-cell hybrid vehicles (FCEVs) spiked 103.7 percent to 939 units.

Automobile exports in September recorded 151,689 units, down 20.7 percent from last year. This is mainly attributable to fewer working days.

Exports of green cars, on the other hand, showed robust increases, rising 31.3 percent to 34,823 units. The export value exceeded $1.0 billion for the first time in history, expanding 46.8 percent. HEVs (up 34.6 percent to 16,932 units), PHEVs (up 163.9 percent to 3,982 units), and EVs (up 12.4 percent to 13,889 units) all posted growth. Shipments of FCEVs dropped 71.4 percent to 20 units.

Korea's auto parts shipped overseas edged down 5.1 percent to $1.9 billion.

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