Vehicle export price ‘34.7 million won’ highest ever

by times news cr

2024-07-16 00:11:51

Impact of brisk exports of high value-added vehicles
Hybrid, up 18% from last year

The export price per car in the first half of this year (January to June) reached its highest level ever for the first half of the year. This is interpreted as a result of increased exports of high value-added vehicles such as hybrid cars and commercial vehicles despite the electric vehicle chasm (temporary stagnation in demand).

According to the Korea Automobile Mobility Industry Association (KAMA) on the 14th, the export price per car in the first half of the year was tallied at $25,224 (approximately 34.7 million won). The automobile export price exceeded $20,000 for the first time in the first half of 2020 and has grown by an average of 2.8% per year for three years. Based on the first half of the year, it was $22,354 in 2021, $22,681 in 2022, and $25,079 last year.

The export unit price is the average export price per unit calculated by dividing the total export amount by the sales volume. The higher the price is for high value-added vehicles such as eco-friendly cars, sports utility vehicles (SUVs), and commercial vehicles. In the first half of this year, electric vehicle exports decreased, but the export unit price increased due to brisk exports of hybrid vehicles and commercial vehicles. The number of electric vehicle exports in the first half of the year decreased by 19% year-on-year to 146,670 units. On the other hand, the number of hybrid vehicle exports increased by 18% year-on-year to 236,960 units.

In the case of commercial vehicles, exports increased, led by eco-friendly vehicles. Previously, commercial vehicle exports had steadily decreased since 2015, when liquefied petroleum gas (LPG) vehicles were discontinued, to 40,048 units in the first half of 2021. However, with the launch of hydrogen commercial vehicles in 2022, exports began to increase. This year, exports of electric commercial vehicles began, and exports in the first half of the year totaled 48,824 units. This is a 6% increase from the same period last year.

Kim Pil-soo, a professor in the Department of Future Automobile Engineering at Daerim University, said, “Mid- to large-sized hybrid vehicles such as Kia’s ‘Sorento’ and ‘Carnival’, which are showing strength in the U.S. market, are also (relatively) expensive, which may have contributed to increasing export prices.”


Reporter Han Jong-ho [email protected]

#Export price#Hybrid

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2024-07-16 00:11:51

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