The Korean Ministry of Trade reported significant car export growth today. Rising global demand for hybrid vehicles drove this massive March surge.
Reaching Near-Record Export Heights
Car exports reached a massive $6.37 billion total value. This figure marks a solid 2.2 percent increase compared to last year. It also represents the second-highest March record ever.
Officials attribute this outstanding performance to booming hybrid car sales. Hybrid vehicle exports jumped an incredible 79 percent year-over-year.
Global and Local Market Shifts
Shipments to the European Union grew a strong 33 percent. However, exports to Asia dropped 38.4 percent. Middle Eastern shipments also fell by 40.8 percent.
Local dealers also saw great success inside the country. They sold 164,813 cars inside Korea last month. This domestic sales figure represents a 10.2 percent year-over-year increase.
Share This Post
