South Korea’s auto exports rose more than 60 percent year-on-year, reaching an all-time high in March, on the back of strong demand for environmentally friendly cars.
Data from the South Korean Ministry of Trade, Industry and Energy showed that the value of auto exports amounted to 6.52 billion US dollars last month, up 64.1 percent from the previous year.
According to the data, this is the highest number ever recorded, surpassing the previous record of $5.6 billion in February.. In terms of volume, exports jumped 48 percent year-on-year to 262,341 vehicles, the highest number recorded since December 2016.
The strong global demand for environmentally friendly cars led to an increase in car sales in general. The value of exports of environmentally friendly cars increased by 94.7% month-on-month in March to its highest monthly level of $2.27 billion. The figure exceeded $2 million for the first time ever.
In terms of volume, sales rose to an all-time high of 71,781 units last month, up 79.5% year-on-year.
