S. Korea’s Automotive Export Hit Record High In Feb

South Korea’s automotive export hit a record high in Feb, thanks to robust demand for eco-friendly vehicles, government data showed, today.

Car shipment soared 47.1 percent from a year earlier, to 5.6 billion U.S. dollars in Feb, according to the Ministry of Trade, Industry and Energy.

The latest figure marks the country’s highest monthly auto shipment, which has continued to grow for the seventh consecutive month since Aug last year.

The number of exported vehicles was 222,934 in Feb, up 34.8 percent from a year earlier.

Export for eco-friendly cars jumped 83.4 percent to 2.02 billion dollars, during the cited period, while the number of exported units surged 61.6 percent to a record high of 63,000.

The number of vehicles manufactured in local factories increased 30.2 percent over the year to, 343,575 in Feb, on the back of the eased supply disruption of semiconductors used to make cars.

The number of cars sold in South Korea, including locally-made and imported vehicles, was 147,031 in Feb, up 19.6 percent from a year earlier.

Source: Nam News Network (NNN)