Seoul: South Korea's auto exports rose 16.8% year-on-year in September, driven by strong demand for eco-friendly vehicles in Europe and Asia.
According to Yemen News Agency, the value of outbound auto shipments reached $6.41 billion last month, the highest figure for September, based on data from the Ministry of Trade, Industry and Resources.
In terms of volume, exports increased by 11% year-on-year to 228,000 vehicles. The cumulative value of auto exports from January to September reached an all-time high of $54.1 billion. Exports to the European Union surged 52.8% year-on-year to $958 million in September, while exports to Asia jumped 62.3% to $823 million. Conversely, exports to North America decreased by 5.3% to $2.8 billion, with exports to the United States specifically falling 7.5% to $2.4 billion.
By vehicle type, exports of eco-friendly vehicles, including electric, hybrid, and hydrogen-powered models, rose 47.5% year-on-year to 90,496 units last month. This marked the first time monthly exports of eco-friendly vehicles surpassed 90,000 units, accounting for nearly 40% of total vehicle exports.