South Korea exported cars to the world worth $10 billion in just two months

Korea C – South Korea’s automobile exports during the first two months of this year exceeded $10 billion.

Yesterday, the combined exports of the country’s auto manufacturers, including Hyundai Motor and Kia, reached $10.4 billion during the January-February period, according to the Korea Automobile Manufacturers Association (KAMA).

The figure represents a growth of 9.4% on an annual basis compared to last year.

In terms of the number of units, total exports reached 41,668 cars, an increase of 4.8% compared to 2023.

For each company, Hyundai Motor recorded an increase of 7%, reaching $4.65 billion, or 44.8% of total exports during the aforementioned period, and Kia’s exports increased by 2.5%, reaching $4.17 billion.

Hyundai and Kia exports accounted for 84.3% of all shipments during this period.

General Motors Korea’s foreign shipments rose by 73.2% to reach $1.26 billion, recording the largest annual growth among the five companies. KG Mobility’s exports jumped by 54.7% to reach $205.5 million.

On the other hand, Renault Korea’s exports declined by 59.9% to reach $87.37 million, making it the only company to witness a decline in foreign shipments.

Source: RT