Seoul: The Republic of Korea's auto exports increased 16.8 percent from a year earlier in September, driven by robust demand for eco-friendly cars in Europe and Asia, data showed Monday.
According to Emirates News Agency, the value of outbound shipments of automobiles reached US$6.41 billion last month, marking the highest figure for any September, based on data from the Ministry of Trade, Industry and Resources. The volume of exports rose 11 percent on-year, totaling 228,000 vehicles, as reported by Yonhap News Agency.
The cumulative value of auto exports from January to September achieved an unprecedented high of $54.1 billion. Exports to the European Union saw a significant increase of 52.8 percent on-year, reaching $958 million in September, while shipments to Asia experienced a substantial rise of 62.3 percent, totaling $823 million. Conversely, shipments to North America decreased by 5.3 percent to $2.8 billion, with exports to the US falling 7.5 percent to $2.4 billion.
In terms of vehicle types, exports of eco-friendly cars, including electric vehicles (EVs), hybrid cars, and hydrogen cars, surged 47.5 percent from the previous year, amounting to 90,496 vehicles last month. This marked the first time that monthly exports of eco-friendly cars surpassed 90,000 units, constituting nearly 40 percent of all auto exports.
