53% ↑ in 5 years… Get rid of the perception of low prices
Exports are expected to exceed 70 trillion won this year
Eco-friendly cars gain popularity, performance driving
This year, the domestic finished car export unit price is expected to set an all-time record, exceeding 25 million won for the first time. This is due to an increase in the share of exports of high added value vehicles such as sports utility vehicles (SUVs) and electric vehicles. As unit export prices rise, this year’s finished vehicle export volume is expected to exceed 70 trillion won for the first time in history.
According to the Korea Automotive Mobility Industry Association (KAMA) on the 25th, the export unit price per domestic finished vehicle from January to November this year was calculated to be 25.59 million on average. The average export unit price of finished vehicles has increased every year from 16.7 million won in 2018, rising 53% (8.89 million won) in the last five years.
In addition, the cumulative number of exports and the export amount from January to November this year were calculated to be 2.52 million units and won 64.5 trillion, respectively. In particular, the cumulative export amount has already exceeded last year’s annual export amount of 54 trillion won. If this trend continues until December, this year’s finished vehicle exports are likely to exceed 70 trillion won for the first time in history.
The analysis is that the popularity of eco-friendly vehicles such as SUVs, electric vehicles, and hybrids, which are relatively expensive, has driven performance. The gain-dollar exchange rate, which has risen significantly over the past two years, has also had an impact on the increase in export prices. During this period, SUV exports totaled 1.83 million units, accounting for 72.8% of total passenger car exports. The export volume of eco-friendly vehicles (hybrid, plug-in hybrid, electric vehicle, hydrogen vehicle) is also expected to increase by 32.5% compared to the same period last year to 662,307 units, more than 700,000 units for the first time.
Thanks to the increase in export prices, Hyundai Motors and Kia, the first and second largest automakers in Korea, became first and second in terms of export volume, and were awarded the ‘$30 billion export tower’ and the ‘ a $30 billion export tower’ to them. , respectively, at the 60 Trade Day ceremony held on the 5. He also received the ’20 billion dollar export tower’ award. Between July last year and June last year, Hyundai Motor Company’s export performance was $31 billion (about 40.3 trillion won), and Kia’s was $23.5 billion (30.6 trillion won). Jang Moon-soo, a researcher at Hyundai Motor Securities, analyzed, “We recorded solid sales volume as the pent-up demand could not be consumed due to supply disruptions after the end of the COVID-19 pandemic.” An industry official said, “This means that the perception that Korean-made cars are cheap is changing in the global market.”
Reporter Kim Hee-ri
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