South Korea auto exports grew sharply, driven by rising European demand and increasing popularity of electric vehicles. Exports increased 8.6 percent from last year, despite tariffs in North America. This surge highlighted the strength of South Korea auto manufacturing and the growing appeal of eco-friendly vehicles worldwide.
The value of outbound automobile shipments reached $5.5 billion, marking the highest August figure on record. In terms of volume, South Korea auto exports climbed 5.5 percent to 200,317 vehicles. From January to August, accumulated auto exports hit an all-time high of $47.7 billion, signaling sustained global demand.
European markets showed exceptional growth. Exports to the EU surged 54 percent, with Germany and the Netherlands recording increases of 118.7 percent and 110.3 percent, respectively. Britain received 115.7 percent more vehicles, while Turkey’s shipments jumped 96.1 percent.
Exports to Asia increased 9.3 percent, reaching $591 million, while shipments to the Middle East rose 9.8 percent. Exports to Oceania jumped 20.1 percent. By contrast, shipments to North America declined 8.3 percent, with the United States down 15.2 percent due to 25 percent tariffs.
Eco-friendly cars drove the growth further. Exports of electric vehicles, hybrids, and hydrogen cars expanded 26.6 percent to 69,000 units. EV shipments surged 78.4 percent, led by Kia’s EV3 and Hyundai’s Casper Electric models in overseas markets.
Domestic auto sales also strengthened, rising 8.3 percent to 139,000 units. This marked the seventh consecutive month of growth. Eco-friendly vehicles made up over half of domestic sales, a 36.1 percent increase compared to last year.
Domestic production mirrored the export growth. Car manufacturing rose 7.1 percent to 321,000 units. Expansion in both domestic sales and South Korea auto exports supported this increase. Analysts said these trends demonstrated the industry’s ability to overcome challenges while meeting global demand.
Overall, South Korea auto exports benefited from European demand, strong EV sales, and resilient production strategies. The sector continues to expand, with eco-friendly vehicles at the forefront of growth.
