Data released Monday revealed a 16% increase in exports of passenger cars in the third quarter of 2023 compared to the previous year due to the popularity of eco-friendly models. South Korean carmakers shipped a total of $14.6 billion worth of passenger cars during the July-September period, with 610,000 cars being exported. There was a notable 35.6% surge in exports of eco-friendly cars, amounting to $5.5 billion. Imports, however, dropped by 22.8%.
Exports to the United States rose 24.5%, while those to Canada and Australia increased by 21% and 14.4%, respectively. The average price of exported cars was $23,979, up 12.7%, and the average price of imported cars was $45,575, rising 5.4%.
This file photo shows a Hyundai Motor quay in Ulsan, 299 kilometers southeast of Seoul, packed with cars set to be exported. (Yonhap)
colin@yna.co.kr
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