2024-01-21 06:26:49
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Published on: Sunday, January 21, 2024 – 8:22 AM | Last updated: Sunday, January 21, 2024 – 8:22 AM
South Korea’s exports of used passenger cars last year recorded a new high amid growing global demand for environmentally friendly hybrid models, South Korean data showed on Sunday.
The South Korean Yonhap News Agency quoted data collected by the South Korean Used Car Export Association that foreign shipments of used passenger cars reached 4.44 billion US dollars in 2023, an increase of 66% from the previous year.
The number of units sold reached 555,549 units, an increase of 68% during this period.
Gasoline-powered cars represented the largest share at 67.5%, followed by diesel cars at 30.3% and hybrid models at 1.3%.
Hybrid car exports also set a new record, with exports rising by 82% year-on-year in 2023 to $124.2 million.
The data also showed that the number of used hybrid models sold abroad increased by 63% during the period to 7,115 units.
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