January Auto Exports Reach $6.07 Billion, Driven by Eco-Friendly Vehicles Accounting for 42%

In January this year, automobile exports reached 6.07 billion dollars, marking the second-highest performance ever for the month of January. The increase in working days due to the Lunar New Year holidays and strong exports of eco-friendly vehicles combined to produce this result.
According to the "January Automotive Industry Trends" report released by the Ministry of Trade, Industry and Energy on the 19th, export value rose year-on-year, while export volume, domestic sales, and production all posted double-digit growth. The ministry explained that a base effect was at work, as last year’s Lunar New Year holidays fell in January (25–30), leaving three fewer working days than this year.
Export volume came to 247,000 units, up 23.4% from a year earlier. In particular, exports of hybrid vehicles surged 85.5% to 1.71 billion dollars, leading the overall performance. Exports of electric vehicles also increased 21.2% to 780 million dollars. Eco-friendly vehicles accounted for 42% of total export value. In volume terms, eco-friendly vehicles reached 92,000 units, representing 37.4% of all exports.
Domestic sales in January totaled 121,000 units, a 14% increase from the same month last year.
Sales of domestically produced vehicles rose 9.6% to 98,000 units, while imported car sales jumped 37.9% to 23,000 units. Domestic sales of eco-friendly vehicles climbed 48.3% to 58,000 units, making up 47.7% of the total market. Notably, electric vehicle sales soared to 10,000 units, a 507.2% spike. In January’s passenger car sales rankings, the Kia Sorento took first place, followed by the Kia Sportage, Carnival, and Hyundai Elantra.
Production reached 361,000 units, up 24.1% from a year earlier. By model, the Trax, Hyundai Elantra, and Hyundai Kona recorded the highest production volumes, in that order.
All five major automakers increased their production. Some companies that had temporarily suspended plant operations in January last year posted growth rates exceeding 2,000% due to the base effect.
aber@fnnews.com Park Ji-young Reporter