South Korea's car exports fell by 20.7% in September, and new energy vehicle exports hit a new high

According to foreign media reports, on October 15, data released by the Ministry of Trade, Industry and Energy of South Korea showed that due to the global shortage of automotive chip supply and holidays, in September, South Korean car production was 229,423, a year-on-year decrease of 33.1%; domestically; Automobile sales were 1,139.32 million vehicles, a year-on-year decrease of 29.7%; export sales were 151,689 vehicles, a year-on-year decrease of 20.7%, ending eight consecutive months of year-on-year growth; exports were US$3.56 billion, a year-on-year decrease of 6.1%.

South Korea’s Ministry of Trade, Industry and Energy stated: “The continued global chip shortage, coupled with South Korea’s five-day Autumn Eve holiday to celebrate the Autumn Eve, reduced working days, which have led to a reduction in automobile exports and production. "

　　From the perspective of vehicle models, in September, the export volume of new energy vehicles hit a record high, thanks to the strong demand for such vehicles in the global market. In September, South Korea’s export of new energy vehicles was 34,823, an increase of 31.3% over the same period last year; the export value was US$1.04 billion, an increase of 46.8% year-on-year. This is the first time that South Korea’s export of new energy vehicles has exceeded the US$1 billion mark.

　　 Among them, the export volume of South Korean electric vehicles was 13,889 units, an increase of 12.4% year-on-year; the export volume of plug-in hybrid vehicles was 3,982 units, an increase of more than doubled year-on-year.

From the perspective of exporting countries, in September, South Korea’s auto exports to North America were US$1.33 billion, a drop of 30.4%; while exports to the EU and Eastern Europe were US$790 million and US$449 million, an increase of 41.8% and 41.8% respectively. 18.6%.

 　　 From the perspective of automakers, in September, South Korea’s largest automaker Hyundai Motor Co.’s export sales fell by 11.8%, while Kia Motors’ export sales fell by 19.2%. However, the export volume of Renault Samsung Motors increased by more than 7 times year-on-year, mainly due to the strong sales of its XM3 SUV in the global market.