The Ministry of Trade, Industry, and Energy announced on April 18 that the nation's car exports amounted to US$4.12 billion last month, up 4.1 percent from a year ago. With the March increase, the nation's car shipments rose for two consecutive months.
The ministry said that the number of cars the country exported during the month of March fell 5.1 percent year on year to 248,618 units, but in value terms, the nation's car exports registered a positive growth thanks to the increase in shipments of eco-friendly vehicles and mid- and large-sized models which have relatively higher export unit prices.
Since the release of the Niro by Kia Motors and the Ioniq by Hyundai Motors, Korea's shipments of eco-friendly vehicles, including electric and hybrid cars, have been on an upward trend on the back of the rising demand from North America and Europe.
The nation's exports of eco-friendly vehicles stood at 10,079 units in January, 13,477 units in February and 14,907 units in March. email@example.com