▲ Cars awaiting export
South Korea's auto exports exceeded $6.2 billion last month, setting a record high for any July.
Amid simultaneous increases in domestic car sales and production, eco-friendly vehicles continued to enjoy steady popularity both at home and abroad.
According to the July domestic automobile industry trends released by the Ministry of Trade, Industry and Energy today (the 13th), last month's auto exports rose 7.0 percent year-on-year to reach $6.24 billion.
This figure surpasses the previous July export record of $5.9 billion set in 2023.
Exports were driven primarily by eco-friendly vehicles.
Eco-friendly car exports increased 25.5 percent year-on-year to $2.59 billion, accounting for 41.5 percent of total exports.
Among them, electric and hydrogen vehicles rose 31.9 percent to $940 million, while hybrid vehicles increased 22.2 percent to $1.65 billion.
Exports of internal combustion engine vehicles declined 3.1 percent to $3.65 billion.
By region, exports grew mainly in key markets such as North America and the European Union (EU).
Exports to North America increased 18.0 percent to $3.25 billion, and exports to the EU rose 23.5 percent to $880 million.
The ministry attributed the export growth to an increase in operating days—as major automakers shifted their summer vacation periods to August—along with robust demand for eco-friendly vehicles and sports utility vehicles (SUVs).
While exports to Asia (down 27.1 percent) and Central and South America (down 7.4 percent) decreased, exports to the Middle East rose 12.7 percent year-on-year to $430 million, returning to an upward trend for the first time in eight months.
Domestic sales last month increased 0.5 percent to 139,000 units.
Eco-friendly car sales jumped 14.6 percent to 84,000 units, making up 60 percent of total domestic sales. Among them, electric vehicle sales surged 47.5 percent to reach 36,000 units.
By passenger car model, the Tesla Model Y (8,705 units) reclaimed the top spot in domestic sales last month, outpacing the Grandeur (8,532 units) and Seltos (7,427 units).
Car production also rose 11.3 percent compared to July of last year, reaching 352,000 units, driven by factors such as an increase in operating days.
Meanwhile, the ministry held an industry roundtable meeting today at the Korea Automobile Mobility Association in Seocho-gu, Seoul, with representatives from four major automakers—Hyundai Motor, GM Korea, KG Mobility, and Renault Korea—as well as related organizations including the automobile association, to discuss second-half outlooks, the transition to future vehicles, and ecosystem coexistence measures.
Amid intensifying global competition for survival in the electric vehicle market, automakers emphasized the importance of maintaining a stable domestic production base of over 4 million units annually and requested government policy support.
They also agreed to join forces with the government to transform the future vehicle-centric parts industry ecosystem and build a symbiotic ecosystem between automakers and parts suppliers.
(Photo: Yonhap News)
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