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S. Korea's exports of eco-friendly cars hit record high in April Updated: 2022-05-17 08:02:44 KST

Despite the ongoing disruption to global supply chains, South Korea's exports of eco-friendly cars hit a record high in April, posting an increase for the 16th straight month.
The Ministry of Trade, Industry and Energy said Monday that outbound shipments last month came to around 48-thousand units.
This is up about 40 percent on-year.
Also the dollar value of eco-friendly auto exports soared by 42 percent, hitting 1.3-2 billion U.S. dollars in April.
In addition, the dollar value of the eco-friendly vehicle exports accounted for more than 30 percent of South Korea's overall auto exports.
The ministry attributed the rise to the popularity of hybrid and electric cars, with new models, including Hyundai Motor's IONIQ5, Kia Motors' redesigned Sportage and Renault Korea Motor's XM3, in particular doing well overseas.
One expert says, exports to developed countries are rising especially, due to the tightening of environmental regulations.

"South Korean car makers have switched quickly to making eco-friendly vehicles so there're many models that they can be exported. Particularly, hybrid or electric models launched last year are in high demand as they're high in quality and swept global awards."

Domestic sales of eco-friendly cars in April also reached a record high for the second month in a row.
The number sold within the country has risen for three months in a row, standing at around 40-thousand a month, up roughly 60 percent on-year.
In particular, sales of domestically-produced eco-friendly cars jumped nearly 84 percent on-year.
However, the number of diesel cars sold in the country during the first quarter of this year have plunged by nearly 42 percent compared to the same period a year earlier, standing at around 44-thousand.

"Because of the recent high oil prices, in particular the soaring prices of diesel which exceeded that of gasoline recently, have caused the demand for diesel cars to fall. And in turn, the demand for eco-friendly cars has risen."

He added the demand for eco-friendly cars is to accelerate further in the future both at home and abroad with the fall in popularity of conventional combustion engine cars.
Eum Ji-young, Arirang News.
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