Despite 'heavyweight' competitors, Korean auto exports hit new record

The average price of South Korean cars exported overseas hit a new record high in the first half of 2024, according to Yonhap news agency.

South Korea's total auto exports reached $37 billion in the first half of this year, up 3.9 percent year-on-year.

According to data released by the Korea Automobile and Mobile Association on July 14, the average export price of the country's cars reached $25,224 per unit in the January-June period, up 0.5% from $25,079 recorded a year earlier.

Meanwhile, total auto export value reached 37 billion USD in the first half of this year, up 3.9% over the same period.

The increase comes amid growing demand for eco-friendly models, as well as SUVs and commercial vehicles, which typically come with higher prices.

South Korea's hybrid car exports rose 19.5 percent year-on-year in the first half of the year, with commercial vehicle exports also rising 6 percent, according to data compiled by the Ministry of Trade, Industry and Energy.

Despite the rise of Chinese rivals with higher price competitiveness, commercial vehicle exports are showing signs of recovery, a South Korean auto industry expert said.

Source: https://baoquocte.vn/bat-chap-cac-doi-thu-nang-ky-xuat-khau-o-to-han-quoc-dat-ky-luc-moi-278673.html